lrrsc
116 Posts |
 Posted - 07/25/2008 : 08:12:53 AM
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This is a tough deal and I need help placing it. Please e-mail me at john@givetwenty.com so I can relay the details of the file.
SFR, O/O, 730 mid, 172,000 in reserves, cashout, 530 loan amount, wage earner, California property
The property is an SFR o/o. The borrower is going through a divorce and is legally separated from his wife. The question I have is this: As a couple they have two homes, but she pays for one and he pays for one and they are legally separated. However, he's on the mortgage for the house she pays for. How will your underwriter look at that debt.
Also, to make the debt ratios work, at closing some things are need to get paid off. Will you all allow for things to get paid off at close so they don't count against the debt ratio?
thx, John |
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