[unitax58]

Does amyone know of a lender in Az that does owner occupied equity loans?

[CpepeWBL]

We can use real estate as collateral, please shoot me an email to discuss cpepe@wbl.com

Chris Pepe
Vice President
World Business Lenders
Tel + 1 213 293 8210

[dpFund]

We can use real estate as collateral, please shoot me an email to discuss cpepe@wbl.com

Chris Pepe
Vice President
World Business Lenders
Tel + 1 213 293 8210

Someone like WBL is probably your best bet. Most commercial lenders don't like owner occupied.

[unitax58]

Thanks guys!

[RichardGerard]

IF the client really needs the Capital and IF the client cannot get a HELOC through traditional sources, the way you circumvent this is 'say' the property is NOT owner occupied, that in fact it is a 'rental property'. Client can say he/she lives with Family member.

Commercial lenders will not seek to be in 2nd position however they can and will take a first.. If income does not subordinate the loan amount, we can arrange a Stated Mortgage (yes they exist for commercial properties which is what a 'rental' is considered). If credit is an issue we can arrange a Rehab loan etc..

If client seeks fast $ and a higher cost of funds, WBL will be your best bet as mentioned previously.

[rick_clsfunding]

IF the client really needs the Capital and IF the client cannot get a HELOC through traditional sources, the way you circumvent this is 'say' the property is NOT owner occupied, that in fact it is a 'rental property'. Client can say he/she lives with Family member.

So you've reduced yourself to advocating mortgage fraud in a public forum...nice...

[golf2014]

rick...if you have an issue with a member you should message him and not speak about it in a forum. I understand you are from NC and understand the issues you have..it will be ok son.

[golf2014]

no need to try and pump your chest if you disagree with another posters response..I also strongly disagree that he is even suggesting fraud. IT will be ok in time....

[rick_clsfunding]

no need to try and pump your chest if you disagree with another posters response..I also strongly disagree that he is even suggesting fraud. IT will be ok in time....

I'm sorry, but it would make the broker a party to mortgage fraud (to knowingly induce someone to make a material false statement on their mortgage application) and if you feel this is acceptable behavior then (in my opinion) it speaks louder about your character than I ever could...I'm not beating my chest, I'm merely pointing out a fact.

...and the personal insults, really? Whenever someone cannot defend the facts they stoop to personal attacks...

[RichardGerard]

Explaining how a transaction would need to be structured is not advocating acceptable or unacceptable behavior. As there is no money to be made on a Home Equity Loan (of any type), I was explaining what would need to occur if the client was in trouble and could not secure one under ordinary circumstances. Guess that speaks to my character (in your opinion) by trying to help..

[AndyYSCISOdept]

Explaining how a transaction would need to be structured is not advocating acceptable or unacceptable behavior. As there is no money to be made on a Home Equity Loan (of any type), I was explaining what would need to occur if the client was in trouble and could not secure one under ordinary circumstances. Guess that speaks to my character (in your opinion) by trying to help..

Touche

[D360]

Let me get my popcorn ready