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Old 09-28-2005, 08:52 AM
dehart
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Default Short-term (1-2 years) Second mortgage needed

House
Built new in 1996
Valued at $200,000+ (appraised at $190,000 in October 2001)
Existing mortgage balance of a bit less than $160,000
House next door sold for $238,000 last Spring
House 2 doors down sold (listed at $219,000 - s.p. unknown)
House around corner sold (listed at $238,000 - s.p. unknown)
New subdivision 2 doors away selling for $250,000 to $400,000+

Borrower
Stable job - same company for 16 years - Computer Manager
Single
No dependents

Needs (second mortgage)
$10,000 to pay off all other debts (credit cards, credit line,
taxes)
$5,000 as a safety cushion to cover any unexpected expenses

Intent
Rebuild credit severely damaged as a result of divorce
Refi 15 or 30 year fixed rate in 1 to 2 years, depending on
rates and credit score

Prior offers
Refi of $174,000 at 7.3%, 2 yr. adj., $8,000 closing costs
Refi of $198,000 at 8.3%, 2 yr. adj., prepay pen., $6,000
closing cost

If interested, email dehartk@hotmail.com with info on what you can offer
or a way for me to contact you to discuss it. This can be a great deal
for both you and me.

Ken
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