Posted by Burt Buchanan on August 16, 2002 at 18:44:13:
In Reply to: No Documentation Lenders in New York City posted by James Balis on July 31, 2002 at 17:47:45:
We are aggressively funding Simultaneous Closings and Investor Flip's. No title seasoning issues. Folks let?s face it, banks are NOT allowing Flips these days. We don?t care if you bought it for $10 or it was deeded to by someone in foreclosure and you found a buyer the next day and are selling it for $100,000. As long as the value is there, we will fund the deal! Even works great for FSBO?s (For Sale By Owner) properties advertising "owner financing" in which we will buy the note at closing. We can close in less than two weeks if a complete file is sent to us. We assist with the title company in the form of providing them with instructions to get the deal closed. We have excellent buy rates on first liens. We allow seconds when needed. In some cases will even purchase part of a second at closing as well (OCC 1-4 units only). LTV?s can go as high as 90% on OCC and 85% on Non-OCC and 2 to 10 units. Our Simultaneous Closings note programs are full to no doc programs. No doc programs start with FICO scores above 600. Full to light doc programs start with FICO scores 520 to 599. No PMI for the buyer at any LTV! No pre-payment penalties! If you have a deal, contact me or just fax a deal summary with complete 1003 and tri-merge credit report. Don?t have a 1003? Contact me and I?ll send you one. If you do not have the means to pull credit, we will do so at a cost of $22. We look forward to doing business with you ;-)
Best Regards,
Burt BuchananAm West Financial
Tel: (626) 796-9396
Fax: (240) 220-7218
notesbuyer@netzero.net