What lender can I use for this scenario

RonJon · #1 (**permalink**) 03-01-2006, 11:30 AM

This new loan would be a rate and term refinance with an LTV between 75% to 80%, the DTI will be 36% to 38%, and all the proceeds will be used to pay off debt currently secured by his home. (NO CASH BACK TO BORROWER). The main negative is that he has JUST discharged a Chapter 7 bankruptcy in January of ’06 The primary borrowers middle score is 550 and the coborrower is 575. This person is alreadt approved by a lender I know and trust. They are supposedly approved on a 2/28 libor at 7.625%

Need some help on this one.

tummie · #2 (**permalink**) 03-01-2006, 02:24 PM

what state are you in maybe i can help you .

florida man · #3 (**permalink**) 03-01-2006, 11:44 PM

ron, delta and scores of other lenders will do a one day out banko -esp with those LTVs. If the loan amount is over $40 or $50 k, you have a host of sub primers waiting to take that deal.

tummie · #4 (**permalink**) 03-02-2006, 08:39 AM

this deal isn't a R/T because you are paying thing of so this is still consider a C/O refi .

Greg · #5 (**permalink**) 03-02-2006, 04:41 PM

Option One, New Century, Aegis Funding,