Home Equity Loan (or Cash-Out Refinance) - Posted by Tony

Posted by Joshua Davis on June 02, 2005 at 11:58:44:

Just sent you over a quick email. This is something I can more then likely help you out with. Depending on your motivation we can close this in 7-11 business days. Thanks Tony,

Joshua Davis
Great American Mortgage Company

Home Equity Loan (or Cash-Out Refinance) - Posted by Tony

Posted by Tony on June 02, 2005 at 10:38:40:

I am looking for a lender asap who can do loans in Michigan and if so, can do get 95% LTV on a cash out refinance (or do 2nd mortgage of around $25,000)? First mortgage balance is about $340,000 and property was appraised for $385,000 in January 2005.

I have owned my house since January 2005 and my mortgage payment history has been perfect since I closed 5 months ago. Before then, I rented for 1 and 1/2 years and I have a signed private Verification of Rent showing 0x30 rent pmt history.

As of last week, my mid-score is 541 (other scores are 540 and 567). And, my scores should be higher because my mortgage lender has yet to report any of my payments. According to my mortgage lender, they should be reporting sometime soon. A verification of mortgage would show 0X30 pay history though.

My salary is currently $105,000 and I am due for a salary increase in July. Then, my base salary will be anywhere between $105,000 and $110,000, closer to the $110,000.

Thank you to anyone who can provide me with information.