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tlkiser · Joined: 12 Aug 2008 Posts: 1 1.32 Dollars($)

How can I get a home equity loan in Ohio with a descent beacon and employment for only 5 months? My mother had left my two sons a home. They quit claimed it to me in order to get a home equity line of credit. However, I am having trouble getting the loan, as I have only been on payrolll at our home business for 5 months and have no recent W-2's. Any advise will be much appreciated.

chrisburns · Posted: Tue Aug 12, 2008 9:33 am Post subject:

Without 2 years of income documentation no conforming lender will be able to do an equity loan for you.

The only option it sounds like you have with such limited work history and virtually no title seasoning is a private or hard money loan. The interest rates and the cost are higher, but if you need some quick cash in the short term it may be a good option for you.

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