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gwm
174 Posts |
 Posted - 04/01/2008 : 1:27:12 PM
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Can anyone use bankstatements for this one? Statements show an average of around $4225/month for the last 8 months; probably the same for the past year. Main income from father/employer's UK business; secondary from ministerial work; and thirdly from rent.
Is overseas income taxable?
Thanks |
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PBFinancial
310 Posts |
Posted - 04/01/2008 : 5:42:24 PM
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I can do a 9.9% 40 year full amortized fixed loan due in 10 with a two year prepayment penalty at a cost of 2.00%, $695 underwriting fee, no appraisal, close within 5-7 business days, stated/stated.
If you have any questions call me at 310-289-0900 x 102 or e-mail me at pbroukhim@pbfinancialgrp.com |
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gwm
174 Posts |
Posted - 04/08/2008 : 1:50:29 PM
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PBF may get a chance with this.
Can anyone else get this borrower a better deal? |
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Jack Straw
1098 Posts |
Posted - 04/08/2008 : 2:47:14 PM
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I can easily do this deal as an I/O payment.
Best Regards,
Gillee Sherman, California Equity Lenders, Inc.
(818) 584-2318 - Direct
(818) 522-9307 - Cell
(818) 337-2262 - Fax
gillee@calequitylenders.com
www.calequitylenders.com
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rneriz
37 Posts |
Posted - 04/08/2008 : 2:48:03 PM
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| Are you FHA approved? Let me know, I can help you. If you can do full doc, I can help you in the low 6%'s and lower |
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gwm
174 Posts |
Posted - 04/08/2008 : 3:11:24 PM
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rneriz,
can't go full doc, otherwise this would've closed by last week.
Just heard that Wachovia are going to have a look at the bank statements to see if they can do it. If they can't then maybe one of the equity lenders will get it.
Thanks. |
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LOFROMCO
56 Posts |
Posted - 04/08/2008 : 3:16:21 PM
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have you just tried running it FNMA and see if you get a verbal verification of income? Sometimes that will fly on an LTV that low. It's worth a shot, but the fact that it's cashout may limit you.
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gwm
174 Posts |
Posted - 04/08/2008 : 5:56:48 PM
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| DO asks for a VOE but as the borrower's main source of income is her father's business it becomes more difficult. |
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re_manager
2625 Posts |
Posted - 04/08/2008 : 6:11:49 PM
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We can do this on our 30-Year Fixed w/ 10 Years of I/O:
6.90% (0.50% COST), 7.15% (PAR), 7.15% (0.50% rebate), 7.25% (1.00% rebate)
Please let me know if this works for your client.
Thanks |
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gwm
174 Posts |
Posted - 04/09/2008 : 08:43:41 AM
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| Phil - the file is currently with Wachovia - they are trying to see if they can do it with bank statements. Due to several lates over a year ago they wanted it to go full doc but are willing to check the statements to see if they can make an exception. |
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gwm
174 Posts |
Posted - 04/11/2008 : 09:28:14 AM
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While Wachovia are taking all week to see if they can do this, can someone else offer the borrower a good deal?
Gillee - did you get my email?
PBFinancial - can you do interest only?
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