Thread Starter: Ishmael
Title: Re: Tricky Commercial Flood Question
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Thanks David, Randy. I've been here longer than my profile says, and am always grateful for your insights. The BCC website and the free downloads stuff is excellent, especially the RE lending matrix. Wish I had the power to be a paying customer. Sort of!
Yes, three loans, three notes and mortgages. Each $25-30K. And commercial condos. Former factory space converted to workspace. Based on your write-up (which was great), ACV, not RCV, is the actual operative figure, if it can be calculated.
I'm still stuck on whether we even have a shortfall. My feeling is that we do, and that it's the gap between $500K and $295K, which is how much insurance is presently on the building. If I'm right--big if--I'm trying to figure out the best, least ridiculous remedy.
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