Posted by GC on October 26, 2000 at 21:14:30:
What state are you in? If you are located in Florida, I can assist you in securing a loan with only 6 months seasoning on an O/O even though your credit score is under 600. Are you using this as your primary residence or as an investment property? I just helped someone get a loan in a situation that sounds similar to yours. Client had obtained property at a good price, rehabbed somewhat while living in it and wanted to get some cash back. Client had a credit score under 530 with numerous charge-offs and I still was able to get a 75-80% LTV loan on a cashout refi. Could have secured a 90% loan at a better rate if the existing mortgage wasn’t a private note. If you are located in Florida and I can be of any assistance, feel free to e-mail me at gc1492@netzero.net
GC