Helping you find your way home. Welcome to Philanthropic Properties. Whether you’re buying, selling, or just trying to keep your head above water, we’d like to help you. Finding clever and innovative ways to work with you is our driving force. Philanthropic Properties knows not only the current market, but upcoming projects and future opportunities. With Philanthropic Properties, you have more options for coming out on top. Buying a Home Our team is familiar and experienced with multiple forms of home buying. The traditional mortgage is fine if you fit inside the box the banks have for you. There are other ways to get a loan. Wrap Loans If we’ve bought a home “Subject to”, we can wrap a new loan around it to a new buyer who may not have great credit, but does have the ability to pay back a mortgage, although the overbearing rules of traditional lending don’t allow your bank to give you a loan. We, as a small lender, can take a careful look at your situation with real, human eyes, and use compassion to understand your situation and get you into a home. Sometimes the Dodd-Frank 43% stranglehold is unreasonable. As an example, you’re a professional with an income of $300,000 annually, but you have a divorce or two with alimony, a bankruptcy, business debt for your practice, and you end up spending $135,000 a year on those things. With an effective tax rate of around 30% in this example, you have $75,000 a year to spend on things like vacations, private school for the kids, a boat, a race car, or even a new home. You’re able to pay, but a bank...
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