http://interconflict.com Loan. Mortgage Fri, 05 Nov 2010 07:06:17 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://interconflict.com/loan-faq/have-a-loan-not-sure-what-to-call-it/#comment-2 mark Fri, 05 Nov 2010 07:06:17 +0000 http://interconflict.com/?p=11#comment-2 Your guys scores will be his program due to the type of loan your are seeking (investor refi/stated income) HOWEVER the deal is doable. There are lenders that will do this but you will need to arm yourself first: 1. Get a copy of whatever documents that shows when he purchased the house himself. If he was flipping it, things will be more challenging because he was likely never on title then. 2. Get a copy of the deed showing he held a 2nd mortgage (this will show his ownership) and a copy of the note he held. 3. YOU contact Chase and ask if they will assigned the borrowers interest in the note they hold for 90 days, he will need to make the payments to them to during this time. REMEMBER... Chase DOES NOT want to own the property and it will cost them $$$$ to sell it. Your guys scores will be his program due to the type of loan your are seeking (investor refi/stated income) HOWEVER the deal is doable. There are lenders that will do this but you will need to arm yourself first:
1. Get a copy of whatever documents that shows when he purchased the house himself. If he was flipping it, things will be more challenging because he was likely never on title then.
2. Get a copy of the deed showing he held a 2nd mortgage (this will show his ownership) and a copy of the note he held.
3. YOU contact Chase and ask if they will assigned the borrowers interest in the note they hold for 90 days, he will need to make the payments to them to during this time. REMEMBER… Chase DOES NOT want to own the property and it will cost them $$$$ to sell it.

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