| Author |
Previous Topic | Next Topic |
|
ELISEC
93 Posts |
 Posted - 08/27/2008 : 4:52:20 PM
|
| I think that this is crazy, please tell me if it's not... I just got a loan turned down because the appraised value is currently 490,000.00 and the purchase price over two years ago was 495,000.00 - since the property has depreciated 5,000.00 they cut the cltv by 10% killing the deal! It was a HELOC with M&I - Is there anyone else out there offering HELOCS? |
|
nowbroker
1362 Posts |
Posted - 08/27/2008 : 5:35:30 PM
|
| They hacked my last appraisal also. Try US Bank. |
|
|
mcanada
37 Posts |
Posted - 08/27/2008 : 5:40:26 PM
|
quote:
Originally posted by ELISEC
I think that this is crazy, please tell me if it's not... I just got a loan turned down because the appraised value is currently 490,000.00 and the purchase price over two years ago was 495,000.00 - since the property has depreciated 5,000.00 they cut the cltv by 10% killing the deal! It was a HELOC with M&I - Is there anyone else out there offering HELOCS?
might want to try US Bank |
|
|
clearwaterny
347 Posts |
Posted - 08/27/2008 : 7:20:23 PM
|
| Only try US Bank if it's full doc not stated. And there max CLTV I believe is now 85% (please double check that). |
|
|
waynepbright
3660 Posts |
Posted - 08/27/2008 : 7:27:08 PM
|
I know from past experiences; M&I is weird / hard to deal with in different areas.
|
|
|
Newbud
231 Posts |
Posted - 08/27/2008 : 9:48:53 PM
|
I can take a look at this deal at Merrill Lynch - please call me if you would like to discuss.
Ed Skibicki
(732) 528-2712
|
|
|
just in kase
473 Posts |
Posted - 08/27/2008 : 10:01:34 PM
|
Did you give the AE an Ear full, maybe they should had told you that policy and not wasted your time. crazy...
|
|
|
SoCalRay
2698 Posts |
Posted - 08/27/2008 : 10:34:36 PM
|
quote:
Originally posted by Newbud
I can take a look at this deal at Merrill Lynch - please call me if you would like to discuss.
Ed Skibicki
(732) 528-2712
Thought Merrill got out
Are you wholesale or Retail? |
|
|
Newbud
231 Posts |
Posted - 08/28/2008 : 04:18:54 AM
|
| Retail |
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
