HELOC, NOO, Mid 639 SISA or w/CoBrrwr Mid 618 Full Doc $20-30K

[hawai_pinay]

Borrowers goal is to get cash out. It doesnt seem right to Refi/Cashout. So I talked them into HELOC. But they want me to do this. I wasnt too sure if anyone does HELOCs as low a FICO.
Primary
Mid FICO 639
S/E
Stated

Secondary (if can or can not use)
Mid Fico 618
Wage Earner
May go Full with this person on the loan (or if could Stated would be nice)

D/R 43% 100% $25K C/O
D/R 42% 95% $10K C/O

N/O/O
Value 285,000
Owe 255,000
Currently pays $1500/month for their current loan.

The C/O is to pay off remaining Debt and Extra monies for Travel. ($20-$30K or more if can).

Which ever is the best senario

Any suggestions...

[Greg]

Southstar can do the stated deal.

[hawai_pinay]

Checked out their website and waiting for someone to call me.

[hawai_pinay]

Aloha Greg, nice try, but they could not do this deal...thanks though.
//////////////////////////////////////////////////////////////////////////////
Hi, Wailani!

I just want to make sure that I am clear on what your
borrowers are trying to get done.

This is a cashout on a NOO at 95% to 100% LTV. Stated
income with just the borrower (639 fico) or can possibly go
full doc if we can use the co-borrower (618 fico and wage
earner).

Is all this correct?

If this is what you are asking me becuase my max cashout on
NOO's is 90% full doc or 80% stated. How long have the
borrower's been on title?
************************************************** *******
So yeah, I was told to wait till Sept 1st, that Banks will come out with a NOO Heloc 620.

[GLOAT]

Aegis Home Equity

[hawai_pinay]

08/08/2006 3:59PM -
-NOO, Aegis can not do. But OO, Yes. Up to 95%, 100%. Wait couple months per Aegis. Or next month for a product like this senario.

Thank you Gloat!

[GLOAT]

Not Aegis Funding-Aegis Home Equity www.aegishomeequity.com

[hawai_pinay]

Sorry,

I really appreciate that GLOAT! I will contact them.

Mahalo
hawai_pinay

[hawai_pinay]

Oops, actually, that is who I did contact, Candy from Aegis, in Las Vegas, NV.

Mahalo Nui Loa 'i Hana Hou (Thank you very much again)
hawai_pinay

[Greg]

I missed N/O/O.. Darnnit... Actually I missed a lot more than that because Southstar was my answer to a Stated Income 80/20 O/O. I am all messed up on this one. Sorry :-(

Aegis Wholesale does an 80/20 Purchase N/O/O 100% down to a 620.. I never dealt with the Home Equity Division but I would think they would... Since they have a combo 2nd.. Maybe try the Wholesale division though.. Deffinately not Funding though.. Sub-prime..

No other idea's here though. 2nds Stated and N/O/O are tough. Usually you need a 660 or 680