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The client has made the following changes to the job.
Client prefers freelancers from:
You are still able to submit a proposal for this job.
The client prefers freelancers from
a different location.
Seeking to find homeowners who have jumbo (non-conforming loans) who meet theses parameters:
Purchased property with a non-conforming jumbo loan
Mortgage now underwater (negative equity)
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%
• Current Loan = $1,350,000
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