Posted by raelynn mitchell on March 10, 1999 at 23:16:22:
If this is what I think it is, it’s something I saw a long time ago. The way the one I saw worked, it was set up for if you meet all the bank’s loan requirements otherwise but the bank is short of funds to loan. Which usually doesn’t do any good for trying to get a loan for real estate, as the funds are not “available” to pledge as collateral, only to assist the bank with its funding issues.
A good loan broker would do you a lot more, and in most cases the fee would not be as high. Plus you’d get a lot more for your $$$.
PS: Please turn off the caps lock. Looks like you’re SHOUTING.