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kmanc41

55 Posts
Posted - 05/12/2008 :  12:39:32 PM
Anyone, could use some help on this. I need to find a home ASAP!
1st position HELOC
SFR
NY prop
$380k loan
$475k value
Full doc
795 fico
PMFMike

204 Posts
Posted - 05/12/2008 :  12:40:50 PM
You want a heloc?
kmanc41

55 Posts
Posted - 05/12/2008 :  1:20:24 PM
Yes, the borrower currently has a HELOC at prime + for $270k. In addition, he is currently buying out a business partner and needs the balance of $225k. So, the current HELOC would be paid off, $270k, and the balance would be put towards the buyout.

Kevin Mancini
Sr. Loan Officer
IMC Mortgage Company
428 Main St
Armonk, NY 10504
914-219-5539
Newbud

83 Posts
Posted - 07/05/2008 :  9:29:51 PM
Is this still needed?
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