Cash Out Refinance on a Duplex in Martinez, CA
Most deals don't come easy. Nearly every mortgage application has SOME type of puzzle piece that's difficult to place. Thankfully, the complicated loans with lots of moving parts are the ones that make me a better loan officer, and give my team an opportunity to shine.
Recently in Martinez, CA, we had an applicant that wanted to take some cash out of a 
recently purchased and renovated property. Easy enough, right? It was, until we received tax returns that indicated minimal qualifying income, a title report that indicated multiple liens we were never made aware of, and 2 of the 3 lien holders would be out of the country and unavailable for a fairly large portion of the loan process.
There was more than a little creativity in getting the loan approved and moved to closing - note on subordinate liens re-written to get rid of a "due on refinance" clause, reconveyence, subordination, the addition of a coborrower who owns more than a dozen businesses (yay, K1s on top of K1s on top of K1s!), and organizing a closing between 2 countries - made this an interesting, but rewarding loan to wrap up.
As always, it was a team effort, and with the help of an executive assistant of one of the borrower's, our team worked closely with title and escrow to ensure all the details were sorted through, and our client was able to obtain the cash he needed to accomplish some financial goals.
These are the financial transactions where borrowers need guidance from an experienced team that can sort through financial and property-related intricacies to get to the finish line in a timely manner. Our client accomplished what he sought out to do, and finished up with a 5 star review, stating:
'A somewhat complicated refinance with a lot of moving parts. John was extremely patient and helpful throughout and I really appreciate it. '
Regardless of the complexities of a transaction, if it can be done, my team is happy to do it. We're able to offer the same services in CA, CO, DE, FL, GA, MD, MT, NC, NJ, PA, OR, TN, TX, and VA, so give us a call if you have any questions or ask an expert here if there's something we can help with today.
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