Re: #1 Non Conforming Lender In The US
Does anyone know who the #1 Nonconforming lender is in the US? that will loan on LTV of property Regardless of credit? 80% ltv fmv?that is not a hard money lender. Thanks All
Does anyone know who the #1 Nonconforming lender is in the US? that will loan on LTV of property Regardless of credit? 80% ltv fmv?that is not a hard money lender. Thanks All
You must have all the facts to make an intelligent decision. Otherwise you are just flapping your gums.
1) What is the ARV based on recently sold, comparable properties in the area? Do not base it on the tax assestment value or a guess.
2) What is the AS-IS value? This is harder to come by, but you can try getting the ARV and subtracting the repairs * 1.5
3) what is the loan payoff?
4) are there any other liens on the property?
5) what is the cost of repairs to get the house in retail condition?
6) how many months behind on the loan is the home owner
7) it is an FHA loan?
have you asked the home owner if he wants to sell the house or let the house go and did he say yes?
9) what is the home owner wanting to get out of this - debt relief, walking money, full retail sales price, etc?
You can also do a sub 2 for the short term.