Lease/option refinance - Posted by Mark

Posted by Mark on July 08, 2002 at 18:06:30:

Colorado.

If you can help, I’d appreciate it.

Mark

Lease/option refinance - Posted by Mark

Posted by Mark on July 08, 2002 at 16:34:34:

I’ve done a couple closings with a mortgage broker here in town. She says she has been in the business for 15+ years and knows all the “creative” ways to buy and sell. Yet, when I brought up the idea of lease option and refi, she said no one can do this because in order to refi, I need to be on the title. However, in Bronchick’s material he says “Some lenders treate a lease/option as a sale and will treate the tenant/buyer’s loan as a refinance, not a purchase”. The goal for me would be having the lender lend based on the appraised value of the property and not the purchase price.

Can I educate her (and if so, how?), or should I find someone else to work with?

What has your experience been?

Thanks

Re: Lease/option refinance - Posted by Brian M. Powers(MI)

Posted by Brian M. Powers(MI) on July 08, 2002 at 16:50:00:

it can be done and is done all the time. what state are you in? i might be able to refer you to a lender who can get the deal done.
BMP

Re: Lease/option refinance - Posted by BoY

Posted by BoY on July 09, 2002 at 06:47:36:

Brian,

Do you also know someone here in Houston that does this?

BoY