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To: M. Dodge Thomas; AuntB

B of A had no reason to help you. Why do you need a HARP loan? Any lender can get you 4.00 or better right now. I can....I own a mortgage company.


26 posted on 03/09/2012 8:37:36 AM PST by stephenjohnbanker (God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
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To: stephenjohnbanker
"B of A had no reason to help you".

Well, that was pretty much my point as regards the current behavior of lendrs.

"Why do you need a HARP loan? Any lender can get you 4.00 or better right now. I can....I own a mortgage company".

It's a complicated piece of property: a SF home, an auxiliary building with both a home office and a rental unit, and a two unit apt. building all sitting on a single zoning lot with two different tax PINs, legal-conforming w/ the right to rebuild "in kind", on a lot zoned R2 in a dense urban are - HARP just happened to be the easy way to do it.

(I've refinanced this parcel conventionally in the past, and believe me: you DO NOT want to be the mortgage broker who has to shepherd this through the appraisal and underwriting process. It can be done - has been done several times - but it's a real PIAT.)

28 posted on 03/09/2012 9:44:25 AM PST by M. Dodge Thomas
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