FL; C/O Refi; NOO; 632 FICO; SFR

execdecision · #1 (**permalink**) 03-09-2006, 11:52 AM

Florida
Cash Out Refi
SFR
NOO
Stated Income/Verified Assets
Fico Mid: 632
Appraised Value: $80,000
Loan Amount: $72,000
LTV: 90%

Property has been owned for 9 months
Original Purchase Price was $44,000 and sold from HUD to borrower but original appraised value was $80,000

Can anyone do this scenario.

Thanks,

execdecision
mgeiger_edm@comcast.net

florida man · #2 (**permalink**) 03-13-2006, 10:05 AM

there are some who have no problem with seasoning. However, i might adivse you to stall your client for 3 months , as he can easily go conforming and get a much better rate if he can cough up the income.

I cant think of anyone who will do stated and no seasoning, and even if they did, the price would sting a bit. The best bet for your borrower might be waiting unless he is going under right now.

HisHouseMortgage · #3 (**permalink**) 03-17-2006, 09:20 PM

Try Peoples Choice, 6 Months seasoning. If you need a good AE just Email me and I will forward my inside reps info to you.
Goodluck