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Updated about 8 years ago,
NOO Stated Income or Alt Doc .
I have a 6.5 year old foreclosure so conventional is out, I tried. No extenuating Circumstance on NOO either. Foreclosure seasoned off my credit but apparently Underwriters found it wasn't seasoned enough. I was told I was ok but I wasn't ok. Refi died 4 days before closing.
I am looking for some way to get cash out of a free and clear property I own in Ohio. Worth around $170k or so. I have owned it since May 2016. I have good income, W2, 1099(2 yr), rental (less than 1 yr). I am a slam dunk for conventional except for the 6.5 year foreclosure, close to 700 score.
Property was estimated to have 1.7 DSCR on 122k Cashout @ 5% during my attempt at conventional. I am open to ideas but I am looking for a decent rate.
I have 3 homes in need of refinance right now. 2 in Ohio and 1 in Oregon. So I need to find a good program or I will just wait until my foreclosure seasoning is over. I am not skilled in waiting however.
Thanks