ASSIGNMENT:

Borrowers requested a Cash-Out Refinance.

CHALLENGE:

The property was in negative cashflow for years. A refinance loan would not pay off the 1^st TD completely.

SOLUTION:

Over the course of 2 years, Efon Manriquez guided the client to add 2 ADU’s to the property. After running future analytics of maximum loan dollars, upon receipt of the Certificate of Occupancy the borrower’s loan was approved and was a high enough loan amount to pay the 1^st TD off and get cash out to pay off the ADU loan.