Posted by youngsterz on July 06, 2002 at 17:44:46:
Two thoughts: 1) Check with other mortgage lenders, because I’m surprised that you can’t find a number of lenders who would love to make a 70% loan on a non-owner-occupied investment property, assuming the financials look OK, and that the issue doesn’t have more of something to do with your own complicated financials (no offense intended!)
- You could look into buying them outright with your own cash reserves, then doing a cash-out refinance to pay back your equity line of credit. As the owner, a refinance should be easier than a purchase loan.
Find another lender who is a little more creative. . . .