$272k R/t Refi-az

cassie701 · #1 (**permalink**) 02-05-2007, 12:46 AM

O/O
SFR
80/20 OR 1 LOAN or max LTV
MID SCORE-604
FULL DOC
FULL FILE READY TO GO
NEED LOW PAYMENT PROGRAM!
VALUE $272,500- Appraisal expires in 6 days.

mknight · #2 (**permalink**) 02-05-2007, 10:41 AM

A lot of lenders can do this one. A new appraisal would be required though. Are there any other issues with this file?

cassie701 · #3 (**permalink**) 02-06-2007, 01:21 PM

Yes the appraised value is now $6500 less than it was initially. I need the full $272500 to make the deal work to pay off seller 2nd and lower payment as well.

mknight · #4 (**permalink**) 02-06-2007, 05:13 PM

I see. We allow appraisals to be 4 months old at time of funding. I'm guessing there's lenders out there who are more relaxed on this though. How old is your report?

cassie701 · #5 (**permalink**) 02-06-2007, 05:22 PM

Almost 6 months old

florida man · #6 (**permalink**) 02-07-2007, 06:04 AM

hi cass

the only thing i can honestly suggest is to get the seller to 'forgive' or subordinate the second. With values crashing, it may be a rough sell to get the appraisal that old thru appraisal review.

what would the LTV be if the seller took the second off or accepted settlement / or subordinated ?

cheers