KS, Residential, Refinance, $172K, FICO, 60% LTV
Posted on 1/27/2015 3:16:44 PM
3 SFR plus one personal OO residence. Need $172,000 to refinance all. $295k total resale market value, $250,340 current county appraisal. Ideas welcome. All are located in Wichita, KS and suburb. Owner needs to refi, bank was bought out 2 years ago and is trying to close out all old mortgages. Borrower never 30PD on any notes. Credit is low due to recent business law suits (he won) but was forced to use chapter 13 to hold off on personal debt while fighting frivolous law suits at the appeals level ($125k in legal fees - but he won) - now need to refi the 3 personally owned rental homes and his personal residence. Existing note is with local bank that is not owned by the same group as it was 8 years ago when original notes were taken out. Currently paying 6%.