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No Doc Equity Loan

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shar Guest	Posted: Fri Apr 29, 2011 9:55 am    Post subject: No Doc Equity Loan Like 0 Dislike 0 Is the a No Doc equity loan available in Texas, excellent credit 800's Never Late, No derrogatories, , home worth 190K to 220K, owe 50Kmortgage, want 30K equity loan No doc. OR personal loan No Doc with reasonable interest rate. I can easily get a personal loan with my credit, but rates too high on personal loans. I want to consolidate credit cards. I pay out $900 mo and would like to consoldate. My Credit cards are 8.99% but that is compounded daily interest. Want fixed term with one lower payment. I can only prove about $2200 a month but reality about $3500. I am retire with Social security but have other income no proof. Common sense I am putting out $900 a month on credit cards never late, I can afford a consolidation loan of $25 to $30,000 short term perferred. _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Sun May 01, 2011 11:36 pm    Post subject: Like 0 Dislike 0 Hi shar, No doc loans are hardly available these days. After the crisis in the real estate market, the lenders have stopped giving such loans. Nevertheless, there may some lenders who can give you such loans. You should speak to the local lenders and start applying for no doc loans. _________________ Procrastination is the enemy of your financial success
tomburris Community Expert Joined: 03 Oct 2007 Posts: 135 Location: North Dallas 19.12 Dollars($)	Posted: Thu Jun 02, 2011 1:23 pm    Post subject: Like 0 Dislike 0 you are looking for a 'hard money lender' will be hard to find one though, they o not like to lend on owner occupied properties in Texas _________________ Tom Burris Mortgage Banker 214-763-4629 cell/text/nights/weekends http://www.dallasloanguy.com/ Location: North Dallas, TX Coverage: The entire Great State of Texas NMLS# 335055
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Fri Jun 03, 2011 7:16 am    Post subject: Like 0 Dislike 0 Tom, I understand that home equity loans are very difficult to obtain in Texas due to specific laws that apply (also cash-out refinances, I think). A few years ago, while I was plying my trade as an originator, I had occasion to attempt a refinance transaction for a couple in Texas. I don't honestly recall the issues surrounding the refinance/home equity issue, but I do recall it being a potential problem. My deal fell apart for reasons of credit ultimately, but I'd like to ask that you might be able to address the question of how borrowers go about pulling equity from their homes (if any) in the state of Texas. It'd be a boon to the residents of the state who might be wandering around here on MortgageFit, as well as a benefit for those of us trying to assist from afar. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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