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Vinni100
175 Posts |
 Posted - 08/25/2008 : 11:14:51 AM
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| Who is doing pool loans in Texas? (These are essentially second liens or even home improvement loans and etc). |
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bestbet123
1577 Posts |
Posted - 08/25/2008 : 11:16:01 AM
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Inground or above????
quote:
Originally posted by Vinni100
Who is doing pool loans in Texas. (Essential 2nd liens).
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Vinni100
175 Posts |
Posted - 08/25/2008 : 11:19:31 AM
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| In ground |
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bestbet123
1577 Posts |
Posted - 08/25/2008 : 11:32:04 AM
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Try Beneficial,citi,regency....only ones that do these are consumer discount companies.
quote:
Originally posted by Vinni100
In ground
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loancloser1342
438 Posts |
Posted - 08/25/2008 : 11:36:41 AM
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| Cash out 2nd liens in Texas must be below 50% CLTV. |
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Vinni100
175 Posts |
Posted - 08/25/2008 : 11:41:24 AM
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quote:
Originally posted by loancloser1342
Cash out 2nd liens in Texas must be below 50% CLTV.
Thats what I'm getting. |
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dkendall1979
10147 Posts |
Posted - 08/25/2008 : 12:30:27 PM
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I'm pretty sure that is a state law. Been a long time since I've worn the "Texas Dave" hat.
quote:
Originally posted by Vinni100
quote:
Originally posted by loancloser1342
Cash out 2nd liens in Texas must be below 50% CLTV.
Thats what I'm getting.
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vburek
522 Posts |
Posted - 08/25/2008 : 12:52:52 PM
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| you got some wrong information. In Texas you can access equity or consolidate debt to 80%. You can do home improvement loans to up to 90%. Try IBC or certified funding. One exception, if the first mortgage they have now is an equity loan, then you cannot exceed 80% with a 2nd home improvement. |
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TransNet
519 Posts |
Posted - 08/25/2008 : 2:43:32 PM
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Clarification on the HELOC cash out in Texas. The limits are 50% LTV & 80% CLTV.
If the pool loan is done as a home improvement, which requires a M&M lien to be established before any work is done, then there is no maximum LTV other than that established by the lender. I believe Certified Funding will go to 95% CLTV on their Alternative Program. |
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WorldWideWayne
2397 Posts |
Posted - 08/26/2008 : 10:17:33 AM
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Is GB home equity still around?
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mtgbeast
57 Posts |
Posted - 08/26/2008 : 10:51:57 AM
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A pool loan???
WOW!! some parts of the country are just DIFFERENT! |
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Guinder
62 Posts |
Posted - 08/26/2008 : 10:53:00 AM
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Vinni,
I thought the 50% CLTV applied to Helocs? Stand alone 2nd lien cash out can go to 80% I thought? Try some of the local credit unions. They have some decent home improvement programs. |
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