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Updated about 5 years ago on . Most recent reply

User Stats

53
Posts
11
Votes
Rion Manita
  • Real Estate Broker
  • Boston, MA
11
Votes |
53
Posts

Lender dropped cash out refi due to COVID, need to find a new one

Rion Manita
  • Real Estate Broker
  • Boston, MA
Posted

Hello Biggerpockets,

Hope all is well and everyone is safe and healthy.

I was doing a cash out refi for a three family at a 75% LTV and overnight they dropped it. Sounds like due to liquidity issues. I am sure many of you are experiencing similar things. I already had the appraisal done and we were about to get to the closing. Any recommendations on lenders still doing these, especially ones with little docs required. I need to streamline this. Any info is greatly appreciated.

Thank you

Most Popular Reply

User Stats

874
Posts
355
Votes
Guifre Mora
  • Lender
  • San Diego, CA
355
Votes |
874
Posts
Guifre Mora
  • Lender
  • San Diego, CA
Replied
Originally posted by @Rion Manita:

Hello Biggerpockets,

Hope all is well and everyone is safe and healthy.

I was doing a cash out refi for a three family at a 75% LTV and overnight they dropped it. Sounds like due to liquidity issues. I am sure many of you are experiencing similar things. I already had the appraisal done and we were about to get to the closing. Any recommendations on lenders still doing these, especially ones with little docs required. I need to streamline this. Any info is greatly appreciated.

Thank you

 N/O/O?

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