Scenario: Client was looking for a 1st mortgage while all the assets are frozen due to divorce proceedings.
Obstacles: No “A” lender will approve a mortgage when the divorce has not been finalized. Client’s has no income and all the assets are frozen due to divorce proceedings.
What we accomplished:
– Found a lender that was willing to approve the deal based on equity (no income verification)
– Lifted the freeze on assets in order to register the mortgage
– The deal was funded in less than a week
What’s more interesting:
We negotiated a mortgage rate below 5% and a very competitive lender fee of 1% for the client without any proof of income.
– Client received financed with minimal effort at an amazing rate
– Substantial savings to the client through negotiation
– Happy client with a great solution; while their own bank said NO – we said a YES!