Re: Flip? - Posted by Kathy
Posted by Kathy on April 21, 1999 at 22:50:05:
Sorry if you felt I was being “flip”. Hope Jim didn’t take offense as you obviously did. Please read my response again, I don’t see that I’m bashing him at all. I’m glad it’s working for other people and was thankful for Jim’s response. I look forward to encouraging responses such as his and the others that have replied, especially since I was feeling particularly discouraged right at that moment after being on the phone with bankers all day.
Encouraged enough to try another local mortgage broker; and - lo and behold - they say I can get 75% appraised value 7.75% interest at 10 to 30 years. Said they obviously work with different bankers than the other mortgage broker I talked to. The first broker said even though they deal with out-of-state bankers (they got us our own home mortgage from an out-of-state) the loan is originating in MN and that is what governs the no “cash out”.
So, don’t know how the other broker can do it–but don’t care. I’ll deal with whomever can/will do it!