Borrower is little old lady who owes about $250,000 on a $2.5mm home in Atherton, CA (one of the richest zip codes in the US). Borrower is looking for $500,000 cash out.

Borrower owns 2 unit rental in San Francisco ($2mm value) free and clear.

Borrower has $250,000 in mutual funds/stocks/bonds.

Income source is dividents/rental income/social security.

Looking for No Ratio Interest Only.

Email me at vince@borelfinancial.com

Vince

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Why no ratio?  I'm assuming her income won't service the debt which means the only lenders who are ACTUALLY going to do this are ones who are basically predatory- 'loan-to-own' lenders, otherwise "everyone and their mom" who is actually legitimate in the private sector could easily do this loan.

If everything can check out, I could get this done, but again, my assumption is that all her income won't service the debt and thus, it doesn't really make sense to give her a loan.  What's she going to do with the $500k??

Good luck with this one.

Jared

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