From: GJG@SteelVest.com (SteelVest)
Newsgroups: biz.marketplace.real-estate
Subject: FCU - Federal Credit Union
Date: Wed, 30 Jul 2003 09:30:40 -0500

Idea - utilize a FCU as a source for LOW INTEREST refinancing and/or
acquisition
loans.  The rates are the lowest in YEARS, there are generally no
points, BY LAW there CAN NOT be a prepayment penalty or lock, and
loans can be with limited or no recourse.  Loan amounts are $100,000
to $7,000,000+.

They are easy to join.  Look for community credit unions - whose
members must "live, work, or worship" in the area covered by the
credit union.

Also underwriting is generally "loose" - driveby appraisals, form
docs, etc

All the Best!

GJG@SteelVest.com