Posted by Ben Carmona on March 01, 2007 at 15:08:03:
Were yawl looking for cash out or just refinancing the existing lien?
Does your partner have a credit problem or debt to income ratio problem?
In any case, if yawl each have about a 680 score, this can be done as a no ratio loan. So debt to income ratio is not factored.
This would be through wholesale lenders that we use as brokers so they only make loans and title them in peronal names, not businesses.
Ben Carmona
need to refi duplex - Posted by clinton sims
Posted by clinton sims on March 01, 2007 at 08:46:03:
purchased @ 135k 18mths ago. in tampa/low ses neighborhood. do not have current appraisal but appears to be worth @160k. currently in partners name, i’m on title. willing to refi w/ current partner or have him sell to me. ultimately want to put into buss. sole proprietorship (already established). partner has multiple properties on his credit. i have primary residence, stated income. partner may have credit dept ratio problems bc of properties, so how do we NOT effect our credit long term, buy/refi properties, while having them under corp tax id? all responses welcome.