Need million dollar loan for 512 fico (refi)

prescorp · #1 (**permalink**) 06-15-2006, 01:17 PM

I need a million dollar refi for a 512 fico score. (lenders were are you)

brendo927 · #2 (**permalink**) 06-15-2006, 04:02 PM

full doc, stated, clean mortgage history, what state?

florida man · #3 (**permalink**) 06-15-2006, 04:21 PM

million dollars?

thats a lot of capital to tie up. Full doc or stated , no doc, 150% LTV hope to flip it quick before i default on the loan?

just kidding.

but seriously 512 credit score? It would have to be either 50% ltv or less and /or full doc before i would tie up that much capital as a lender.

hope it turns out well though....

cheers

prescorp · #4 (**permalink**) 06-16-2006, 12:39 PM

Quote:

Originally Posted by brendo927

full doc, stated, clean mortgage history, what state?

Its a fulldoc loan, he has 1x60 on the subject property and its in Virginia.
He suffered from a heart attack in February and went into a comma from March to May. He then fell behind with some of his creditors including his mortgage. so the purpose of his loan is debt consolidation, he just wants to use his equity to get back on track.

Thills · #5 (**permalink**) 06-17-2006, 02:45 PM

The loan is going to be collateral based, so what is the LTV?

florida man · #6 (**permalink**) 06-17-2006, 05:59 PM

hi
1 x 60 full doc should be ok up to about 80% or 75% ltv. Im just curious. This is a million dollar refi...... at full doc, how much does the guy make per month?

brendo927 · #7 (**permalink**) 06-19-2006, 05:27 PM

I know Aames(wish I could help) does down to a 500 fico are a very flexible with guidelines. Collection over 12 months don't affect DTI, only need a 12 VOM, very easy to do band-aid loans. Only other lender I can think of that goes that low and specialized in hardship loans is Eastern....be wary though.