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.
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!
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!