Posted by josh on November 27, 2003 at 10:46:13:
Why would he put his credit on the line for no gain? The loan would still be in his name right?
Ed Garcia or Anyone Else… PLZ HELP - Posted by Quint
Posted by Quint on November 27, 2003 at 24:03:17:
I currently own 6 rental properties and would like to refi 2 to pull cash-out. However, my middle credit score is only 565. I currently have a friend with excellent credit. I wanted to know if I could possibly quit-claim him on the title with me then have him do a cash-out refi on the properties. Once that done, I would then do another quit-claim deed to have the property put back in my name.
Is this possible? Or, is there a better way to do this? Thx
Re: Ed Garcia or Anyone Else… PLZ HELP - Posted by Quint
Posted by Quint on November 27, 2003 at 12:17:53:
Ed:
Thanks for the reply!
I’ll give you a call on Monday as instructed.
Have a GREAT Thanksgiving!
Quint
Re: Ed Garcia or Anyone Else… PLZ HELP - Posted by Ed Garcia
Posted by Ed Garcia on November 27, 2003 at 11:35:48:
Quint,
I need more info to help you. I can tell you right now that it would make more sense to pay a higher rate with a 565 credit score, then it would to put your property in another persons name, and creating a fraudulent loan.
Call me Monday morning at about 10 a.m. California time and we can talk. My number is (909) 944-0199. I might even to make the loan to you depending on your area.
Ed Garcia