Posted by Dave T on September 22, 2004 at 22:07:46:
If the difference between an 80% refi and a 90% refi is only $30K, why won’t the 80% refi work?
Bank of America flaked out on me - Posted by Mike D (WA)
Posted by Mike D (WA) on September 21, 2004 at 22:20:57:
I was told by their loan officers (and branch manager) that they could give me a NOO HELOC LTV 90% at Prime. I now have a property owned free and clear and am ready to get some of my investment back. Today, I go in and they tell me that actually, they can only do 80% on NOO and only up to 100K. Losers.
Their loss is your gain. I have near perfect credit (around 790), 2 deals on the horizon, and a conservatively appraised house w/tenant at 300K in my LLCs name owned free and clear. My contact info above. I’m looking for a very low/no cost solution at around prime (or better) where I can pay interest only (or less for Option ARMs) and get 90% back - better if possible. You help me here, and I’ll be sending tenant buyers your way along with my next deals.
Mike
Re: Bank of America flaked out on me - Posted by Lee
Posted by Lee on September 21, 2004 at 23:30:36:
Allow only ONE check of your credit! Peroid!
The more credit inquiries, the further your credit score falls.
Beware, you have already proven to yourself that they can’t be trusted.
Lee
Credit scores 711, 850, 911
The credit report said the score would have been higher if I didn’t have so many credit cards…
Who needs’em
Re: Bank of America flaked out on me - Posted by Barry (FL)
Posted by Barry (FL) on September 21, 2004 at 23:17:31:
With your credit score, Wachovia will do it no problem. I think up to 95%. Don’t take no for an answer from the first rep you talk to as many have no idea. Call more than one branch. If you still have no luck shoot me an email offline, take nospam out of my email addy.
Hope This Helps,
Barry
Re: Bank of America flaked out on me - Posted by Peter
Posted by Peter on September 23, 2004 at 09:03:05:
Carlton Sheets says you don’t need credit to buy real estate, is he mistaken?
Re: Bank of America flaked out on me - Posted by Mike D (WA)
Posted by Mike D (WA) on September 22, 2004 at 09:15:13:
Huh? Credit had absolutely nothing to do with why this occured. They said they could do one thing, but when the time came and they read their loan specs, they realized they had mis-lead me. Many appologies from them, but no action.
I am absolutely aware of how credit works and as such have only 2 cards with no balances on them and don’t apply hither and yon for unneeded credit…
Re: Bank of America flaked out on me - Posted by Mike (WA)
Posted by Mike (WA) on September 22, 2004 at 10:40:20:
Ok. Went at looked at there on-line stufff and it is giving prime + 0.5 to 80% LTV on a rental. Will talking with someone actually make a difference, or am I going to get the corporate line from them? There are no branches near us in Seattle so I have no indivdual branches to call, just the 877 number. I’ll shoot you an email and see if you’ve got a back-door because 877 number front doors take a long time to get through 