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Home »  Forums » For Mortgage Professionals » Loan Scenarios » Loan Scenario: CA, $135,000, 791, 68% LTV, Refinance (Rate and Term)

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Latest Post: Tue, Mar 2 2010 6:54 PM by Angelo Conver
  		• Tue, Mar 2 2010 6:54 PM
    Loan Scenario: CA, $135,000, 791, 68% LTV, Refinance (Rate and Term)
    Loan Scenario
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    Loan State: California
    Loan County: Orange
    Loan Type: Refinance (Rate and Term)
    Loan Amount: $135,000
    Property Value: $200,000
    LTV: 68%
    FICO: 791
    DTI: 38
    Occupancy Type: Non-Owner Occupied
    Property Type: Condo

    Looking to do a rate & term refinance. Investor did subject to financing and brought the loan current before it was lost at auction. He then got a hard money second the same day he closed escrow of $46K total loans are $82 on the 1st and 46K with the hardmoney second. Total LTV of 68%. The problem im lenders consider this type of loan a bail out loan .I need a portfolio lender. FHA doesnt allow for N/O/O properties. Any ideas. Call me to discuss 909-985-0180.

     

    Angelo

    Angelo Conver
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    Aconver
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