Posted by Dimpil on October 10, 2003 at 18:22:47:
You need an arms lenght transaction. Lenders don’t like it when relatives buy and sell each other property. IF he’s quit claiming it to you, they may go for that. What’s your middle score? That is the key for most lenders. If our middle score is in that range, you can get it done.
Hope you find a broker in AZ to work with.
678 FICO Score. Need Lender to Refi on Sub2 deal! - Posted by Matt
Posted by Matt on September 26, 2003 at 12:14:58:
I will be taking title to my brothers property subject-to. I need a lender to refinance the property and want to get everything set up before I take it over. I already have a renter in the property. I have a 678 FICO score & copies of my credit report that I can fax. The property is worth about $160k and he owes $130k. The home is located in AZ and this will be my 1st investment property. Please let me know if you can help me or know someone who can. Thanks!
Matt