I’m looking for a high LTV second mortgage to consolidate debt and get cash out. Borrower has been self employed for several years, but has only claimed income on last year’s taxes. Has 47% dti using 18 month average income based on 2000 tax returns and six month certified statement from her accountant. Middle credit score 658. Also, she is divorced and her exhusband is still on the first mortgage (although she is solely responsible for it). She wants her name only on the second mortgage. The appraisal came in lower than we anticipated, so a second mortgage with stated value of the property would be nice.
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