Mortgage Lead in Louisanna.
I had a customer fill out a an app on our website. The borrower is in Louisanna. I am not licensed in Louisanna and would like to pass this one on to somebody that is. If you close the loan just pay me a finders fee.
Here is the loan details minus the contact info:
Purpose_of_Loan: Rate/Term Refinance
Type_of_Mortgage: A.R.M. 6 month LIBOR
Purchase_Price_or_Current_Value: $675,000
Down_Payment_or_Equity_In_Home: 175,000
Requested_Loan_Amount: 500,000
Occupancy_Status: Owner Occupied
Property_Type: 1 Unit Single Family Home Detached
Waive_Escrows: No
Loan_Must_Close_By: Undetermined
Rate_Lock_Information: Unsure
Have a loan not sure what to call it.
Have a loan not sure what to call it. Here is the story. My borrower was talked into giving someone a private second mortgage. That someone was foreclosed on by the first lien holder Frank Manny. My borrower has the right of first refusal and is trying to get a loan to pay off Chase. He needs a no income verif. His scores: beacon 616, tu 591, xpn 591. The property is a duplex and came in at 105,000. He needs 70k to pay off the first mortg. including closing costs. He has 12 months bank statemnts for his business at 70% averages out apprx $4,500 month income. ratios under 40%. Submitted to First Franklin said they’d give him 65% LTV. Now they said they can not do it because the borrower needs seasoning? The borrower owns the property because he was a lien holder and is no taking it over. He was holding the lien since March of 99. Technically did he purchase it? refi or what. Is this guy stuck in some kind of loan void? Any one out there know what he can do?
Residential Loan
I recently bought a home at an auction and have my old home financed as a bridge loan. I have excellent credit and would like to consolidate both of these properties into one loan (sometimes called a portfolio). Ideally, I would like to get an interest rate less than 7 percent and no points. Both homes are in Michigan.