[Fundyman]

I have a client with pretty poor credit who needs a no-income no-fico refi on their property.

Location: Maine
Estimated value: $750K
1st mortgage: $223K on residential part; commercial part is free & clear, worth about $60K.
Cash out: $90K
Loan Type:Hard money preferred
Closing: 5-10 days
Term: 12-24 months minimum; interest-only.
Broker commission: at least 2pts

If you are able to do this type of deal, please PM or email: solidmerchantsolutions@yahoo.com

***Need this done quickly.***

[RichardGerard]

PM address of Property.. If my investor has an interest I will let you know... Typically they will not do more than 50% on a deal with bad credit..

[Chambo]

NINJAs? Are we back in 2005 again?

[FUNd]

Chambo knows. Even WBL needs banks. Who the hell would do this deal with no income ver?

[fisheMS]

insert wolf of wall street meme here

[VFG]

No income, no fico, no 4506, no prepayment penalty, no points, no 1003, no good faith estimate, no closing fees and no need to sign.

[Fundyman]

No income, no fico, no 4506, no prepayment penalty, no points, no 1003, no good faith estimate, no closing fees and no need to sign.

Ha! The good ole days!!! LOL!!! But that couldn't happen w/out 740 FICO. Wipe out the rest.

What I really need is this:

Deed in lieu of foreclosure can be signed, no problem.
Got a client who had to shut down business due to snake management, but is already set up to open up shop about an hour from current residence.
Needs no more than about $75K to purchase even if it's a mobile home for relocation.
Once relocated, business can immediately re-open & sizable revenues will happen within 30 days top.
Credit sucks.
No funds right now.

I explained to her that her only bet on something like this is for the property value to come in at at about 50% LTV. Then she has a shot.
Even a 6-month I/O deal would work.
The tough part about this deal is that it's owner-occupied. Otherwise, it would be a breeze. I need a niche lender who wouldn't mind just taking the property over in case of default.
Actually a quite beautiful property. Houses in the neighborhood are all selling at 3/4-$1M.