Single Family Residence
Equity Cash Out04/30/2019
The borrower and her husband are retired but own several properties that generate rental income. Their stated income is ~$30K; however, they did not disclose their full real estate portfolio. They have good credit and have been current on payments for the previous loan for 12+ months. The proceeds from this loan went to pay off an existing loan with an incremental $30K to fix a code violation on a rental property.