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REFI HELP

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sirod Joined: 31 Jan 2008 Posts: 6 3.26 Dollars($)	Posted: Wed Feb 27, 2008 2:14 pm    Post subject: REFI HELP Like 0 Dislike 0 I have a borrower with 654 FICO, Owns businesses, and wants to REFI his own home yet the property is in mixed-property area and most lenders wont approve. Loan Amt= 240K/APV=278K. LTV=47 Ratio=49
larry Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)	Posted: Wed Feb 27, 2008 2:27 pm    Post subject: Like 0 Dislike 0 Hi sirod, I think you should contact with the community lenders directly at http://www.mortgagefit.com/unitedstates/ Hope someone will surely help you. Best of luck, Larry
adonis Joined: 22 Oct 2005 Posts: 10250 Location: ALASKA 1043.57 Dollars($)	Posted: Wed Feb 27, 2008 10:37 pm    Post subject: Like 0 Dislike 0 Sirod, Quote: the property is in mixed-property area What exactly do you mean here? Your FICO score isn't too bad but it isn't that good either. So, being a self-employed person you can go for stated income loans. Know more about such loans at http://www.mortgagefit.com/discuss/about2277.html#statedincome . _________________ Procrastination is the enemy of your financial success
charlesarmbruster Community Expert Joined: 12 Oct 2006 Posts: 169 Location: Chandler, AZ 43.85 Dollars($)	Posted: Thu Feb 28, 2008 11:04 am    Post subject: Like 0 Dislike 0 Yeah, if the property has been re-zoned from residential since he bought it, he will need to get advice from the Title Company. It is possible that the issue can be resolved for the purpose of the financing; otherwise, the property (and possibly the surrounding parcels) may need to be re-zoned....ouch! _________________ Chuck Armbruster Phoenix, AZ payjunction chuck [on facebook]

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