No tax return loans

Credit is easing up

Banker with money

Just heard an ad on the radio for Cash Call Mtg company talking about loans with no tax returns. This is a good thing. you have to put 20% down and it’s 5%. You can do a purchase or re-fi with cash out. It’s not a liar loan. You have to show reserves and bank deposits for the last year but it is a step in the right direction.

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Lending is loosening

Banker with moneyBorrowers inching back into Cash-Out Refinancing

The first quarter of 2015 was the third in a row that more than half of the refinances funded through Freddie Mac were cash out transactions.   The company said that 27 percent of its refinancing loans were cash out compared to 27 and 28 percent in the third and fourth quarters of 2014 respectively.

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