Hello, Just want to introduce my self.Name is Jeff... I am a w2 investor who lives and works outside of the US. I am a US citizen and want to build my portfolio and build my wealth. I currently own 1 single family town home rental property that's nearly paid off in the US. I wanted to use the equity in the house to buy another investment single family home. I contacted my existing lender and applied for a cash out refi. In the process of the application period for the refi I found a good single family house I wanted to purchase it with the downpayment from my cash out and get another mortgage. In this current market I had to act fast so, I did... I have great credit and have no debt.. Long story short... I was conditionally approved by the lender, both the refi and purchase. Rental management company all ready arrange to take over, tenants ready to move in ready to sign a lease.. During the writing of the borrower closing disclosures 3 days before the closing date they verbally denied both loans because I do not live in the US. Is it possible to find a lender that will do business with me?

Very frustrated in this purchase and was a big learning experience... All parties involved upset and very disappointed in the Lender for stringing us along when this could have been avoided from the beginning when I applied for the loans. When I clearly stated and documents proved I have been working abroad for the same company for the past 8 yrs and was disclosed in my tax returns....

Very frustrated....

Any advice would be greatly appreciated !!

Thanks

Jeff

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Lenders who will work with US expats living abroad

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