ISO Lender who will refinance my home that is currently on MLS

[Kurt Traynor]

Very Long Story Short.. My home is listed on the MLS and we have a potential buyer but they are having Lending issues.. but that is not my situation. I'm trying to refinance and debt consolidate my home and considering to take it off the market if the numbers work and keep the home. Wells Fargo will not touch me because of my debt ratio..

here are the numbers (roughly)

MTG on home $180k

Unsecured Debt $80k

Appraisal $385k (personally I believe this is low because the potential buyers ordered this appraisal and $385k is what they originally offered for my house, but we agreed to $400k)   they did not consider a comp around the corner that closed in the $500k range for some reason..  either way, I know a correct appraisal will be over $400k

W2 income $110k

++++++++++++++++++++++++++++++++++++

Goal:

Consolidate debt/mtg payoff and pull out $110k or less to payoff mom who is on title/mtg.  She put that in since she's in an ALF and needed to park money somewhere. 

Question:

looking for suggestions on who will do this for me?  I will take my house off the market immediately to make this happen..  like I said WF will not do this until 6 months after it's off the market.

[Jerry Padilla]

@Kurt Traynor

That is a Wells Fargo overlay. Conventional only requires the property is off the market prior to disbursement. Also, if you are using the cash out to pay off debt, that will be closed permanenty than it can be removed from your DTI's to qualify for the cash out if the DTI's are an issue.