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Long Term Fixed Park Refinance with Cash Out
MHRV Advisors has completed the refinance and cash out loan of a
mobile home park in Murrieta on September 1, 2006. Within 2 years of purchasing this park the borrower
retired an adjustable rate loan with a new 30 year fixed rate loan at 6.30%. The borrower again used his
equity to pull approximately $1,000,000 out of this park with only a slight increase in monthly debt service
because of the low fixed rate.
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