ED! Lordy mon!Offer accepted at 40%,Hoping 65-70% - Posted by Jim

Posted by Ed Garcia on April 12, 2003 at 09:58:53:


You don’t tell us where you’re at or if this will be OO (Owner Occupied) or NOO (None Owner Occupied)? If you have a credit score of 620 or better you should be able to do 100% financing of purchase price going full doc.

Rather then me throw a lot of information on the board that may not be applicable, just call me at (909) 944-0199 later today and we can talk. I’ll be in my office 10:30 California time.

Forget about pulling money out of the deal, you can do that later. For now you need to get the deal down.

Ed Garcia

ED! Lordy mon!Offer accepted at 40%,Hoping 65-70% - Posted by Jim

Posted by Jim on April 12, 2003 at 09:17:44:

I have a “project REO”. (newbie for first home purchase:-) As of 4/10 the bank says they will take $40k in “cash” or $42k conventional financed.

I HAD a Letter of Commitment in my RE agent’s hand for almost a month while the bank played footsie with us all.

Now that they have decided to do things “my way”, Mr. Money Man is nowhere to be found … hasn’t even been to his job in 2-3wks. This would not be so bad if only the company he worked for didn’t act like he took his entire desk when he left them.

So, here I am, set up to buy no less than $102,000 home for $40-42K. This is NOT funny!

I am hoping for 65-70% of the $102K, on a 30yr base loan, 3-5yr balloon at about 9.5% +/- about 2%. Preferably a no doc loan (…that means no stoopid questions) I’m picking up around $40-50K in home equity at close and if I welch the deal I not only lose my happy home, you’ll get to own my 2000 Dakota Quad Cab as well. I’ll wrap it up in the packag as well. :slight_smile:

I’ve been a regular CRE fan for well over three years now and I own (AND have READ!!) Calrton Sheets’ 400buck course materials. This was a "done deal until this guy walked(or disappeared) … anyone out there have the knack for helping me to wrap this deal up anyway?

Ihave to at least have the written commitment by Monday AM (4/14)

Yes I’m a bit upset, but not a quitter!!