Posted by NCPaul on October 30, 2003 at 20:16:50:
I saw the name and had to post something! To answer your questions I need a bit more info.
What is the fico?
What was the purchase price of these properties?
What is the value you are basing the 70-75% ltv on?
How does this guy earn a living? (Job title/line of work is fine. Basically is he Self Employeed or w-2)
I’ll try to help if I can.
Good luck
Income Documentation - Posted by Paul Collins
Posted by Paul Collins on October 23, 2003 at 03:43:28:
I have a client that will be seeking to refinance 2 newly acquired properties by way of warranteed deed. He cannot document income and has a low fico,he will be seeking roughly 70-75% LTV/W cashout.The property will not be seasoned but will be free and clear.
How can he get around this issue any suggestions would be greatly appreciated. Please email me with thoughts and/or solutions: hardcase1@aol.com