Posted by Anonymous on 5/10/06 2:25pm
Msg #118897

reason for refinancing/heloc

On the CW form which asks the borrower to indicate why they are doing a refi or taking a heloc, had one borrower check "other" and write in " For the hell of it!!!". Said it was none of their business.

Reply by BP/WV on 5/10/06 2:35pm
Msg #118906

lol..by any chance was that closing in Anne Arundel County?

Reply by SarahBeth_CA on 5/10/06 2:37pm
Msg #118907

Oh that's funny.

Reply by AngelinaAZ on 5/10/06 3:14pm
Msg #118916

I had one lady check other and write "Boob Job"... and a man that wrote "To buy a Mercedes for my wife so she'll shut up about my girlfriend."

I must live in Sassy County!

Reply by Beth/MD on 5/10/06 4:20pm
Msg #118923

I've had one write "long vacation without my husband."

Reply by LkArrowhd/CA on 5/10/06 8:07pm
Msg #118958

Re: reason for refinancing/heloc Have to love the

frankness and the sense of humor...

Reply by ReneeK_MI on 5/11/06 5:02am
Msg #119048

Re: reason for refinancing/heloc - see 1003

On the first page of the 1003 (next to appraised value, above borrower's name/info) is a description of the purpose for the loan. I point this out to borrower's - they always copy it, after seeing it.

The reason I point this out is because the loan purpose is often part of the matrix used to qualify/approve the loan. If, for example, they had applied for the loan as a "debt consolidation" and then turned around and said "boob job" ... well, I just like to point out the purpose that's stated on the 1003, to help them decide what to say. =)

Reply by MichiganAl on 5/11/06 12:30pm
Msg #119140

I'm going to have to pay more attention to that...

especially if it says "boob job"!!!