dwmordue
436 Posts |
 Posted - 02/22/2008 : 10:06:39 AM
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Anyone know a lender will do a 2nd lien for this scenario
WA - Full Doc - R/T Refi of seasoned existing 2nd that was used for home improvements
75% First, 15% 2nd / So 90% CLTV - 2nd Amount would be $80,000, HELOC OR HELOAN , no preference (existing OCWEN 2nd refuses to re-subordinate)
Primary Borrower - 701 FICO, 5 Years same job, no credit problems , no BK
Co-Borrower - 667 FICO, 1 Year on job, CHAP 7 BK discharged 4 years ago
Primary borrower makes about 70% of the income
Co-borrower has 3 new trades established for more than 12 months since BK was discharged
Have owned house for 5 Years
Never any mortgage lates
Thanks for any help! |
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