100% LTV Stated Stated needed for Purchase

[Stewardship Financial]

Needed Yesterday!

Borrowers are a Mother and Daughter

Mother's Credit Scores 592, 560, 557
Daughter's Credit Scores 615, 593, 545

Actual Appraised Value = $442,000.00 (Accomplished
7/23/07)

Purchase Price = $267,000.00 (Signed Purchase
Agreement)

Seller is contributing $10,000.00 towards Borrowers
Closing Cost

Combined Income $8,912.33

Borrowers Reserves = $7,500.00

LTV must be 100%
DTI = 42.022

This deal was in escrow, waiting on Docs, and
practically closed until this morning. The previous
lender's rate and fees changed over night. "SURPRIZE"!


Looking for this deal to be quickly funded.

Thanks!!!

Lionel Taylor

[bizneswoman]

Lionel,

I am searching for a lender that will even look at 100% Stated.....WHat Lender did you Orignally go to? My client might can deal with their fees and rate.

[Stewardship Financial]

The saga continues, 2 days later I received an email from them that said, "Sorry but we will not be funding any deals at all until further notice". An even bigger SURPRIZE! Fortunately, in the last month, my client's credit scores have improved and their work hours have increased, I may still be able to drag this one across the line.

[Erik]

Depending on how much those credit scores have improved, you might be able to go with New Line:

http://www.mortgagebrokerland.com/wi..._Line_Mortgage