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Nesgroup address: misc.invest.real-estate - Date & Time for the message: 20 Sep 2005 07:37:46 -0700 /

Author of the message: "fjacobs"

Title of the message:
Re: preapproval problem...

Text of the message:
Depending on your state,(make sure I am licensed there), I could get
you  approved, a letter, and probably a better rate. As far as the
future refi on the non owner occ. house-- do not lie about the
occupancy,shop for the best deal possible, if you can't justify the
deal, don't do it.The powers that be are cracking down on fraudulent
activities in the mortgage business more than ever now, it's not worth
it. Is there a reason why you are not pursuing cash out on your current
refi and just skipping the heloc idea? Remember helocs are based on
prime indexes(that are going up)and 1st trusts are based on mortgage
securities or libor, treaury and other indexes that are more stable in
comparison.
paranoid wrote:

> This message mat be crossposted in other groups, if so, sorry, I'm just
> trying to get a quick response....Thanks in advance
>
>     So here is the deal. We own a house with about 40k to 80k in equity



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