Desert Mountain has completed the refinancing process from their December 2010 club turnover. When the club was first turned over to the members they decided to finance a small portion of the sale by using funds contributed by a group of members known as the Member Lending Group. This group acted as the bank under a short-term agreement that would allow the club time to seek further financing from a banking institution.
As of August 18, 2011 they have refinanced the loan through National Bank of Arizona. The new loan arrangement has reduced the interest rate by about 2.5%.
Further details of the refinancing terms will be discussed with Desert Mountain members at the next town hall meeting. This meeting is scheduled for September 26, 2011 from 3 to 5pm.
Contact me with any questions about the top golf clubs in Scottsdale.
Carmen Brodeur JD
Realtor
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260
Cell (602) 791-0536
Carmen@TopScottsdaleHomes.com
www.DesertMountainHomesOnline.com