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Underwater Non-Conforming Loans - Arizona
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Job Description

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  • Posted: Sat, Jul 14, 2012
  • Time Left: Closed
  • Location: Anywhere
  • Client prefers freelancers from:

    You are still able to submit a proposal for this job.

    The client prefers freelancers from
    a different location.

    You're still able to submit a proposal for this job, regardless of your location.
  • Start: Immediately
  • Hourly Rate: $10 - $15 / hr
  • Hrs/wk: Not Sure | Duration: 3-4 weeks
  • Work View™ Payment Protection
  • W9 Not Required
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Seeking to find homeowners/commercial property owners who have jumbo (non-conforming loans) who meet theses parameters:

State: Arizona

Purchased property with a non-conforming jumbo loan
Mortgage now underwater (negative equity)
Can't refinance
Want to keep/stay in the property
Not listed for sale at the moment
Likely to consider walking away from the property
Preferably no Junior Liens
Not in default on repayments
Credit score 700+

Negative Equity Parameters based on Loan Value at Purchase Date
Under $500,000 loan 20% Negative Equity

Upside Down Example #1
Rule: $500k and Under - $20%
Current Loan = $475,000
$475,000 x .80 = $380,000
As long as CMV is $380,000 or less = ideal deal

$500k -$1M loan 15% Negative Equity
Upside Down Example #2
Rule: $500k - $1mm - $15%
Current Loan = $875,000
$875,000 x .85 = $744,000
As long as CMV is $744,000 or less = ideal deal

Over $1M loan 10% Negative Equity
Upside Down Example #3
Rule: $1mm and Up - 10%

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Job ID: 31950976
Hourly Rate: Avg $ | High $ | Low $ — Show Pricing
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