ASSIGNMENT:

This was a rate & term refinance for a borrower that was referred to us by a real estate brokerage that we do a lot of business with. The transaction turned out to be much more complicated than what was originally expected.

CHALLENGE:

Borrower had credit issues, tax liens, property didn't appraise, and the borrower's current 1st & 2nd trust deed were due and the rate was getting ready to roll to 24% OUCH!

SOLUTION:

ALB was able to negotiate with the lender to increase their maximum LTV to 79% for a rate & term refinance. It wasn't the best rate but 30 year fixed and years of interest only. With our help the borrower was able to place themselves in a better situation than when they came to us. That's what this business is all about; Helping people!