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Business's response - by Kevin W.on 7/14/2008
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Though we care about our clients, we must respectfully say, your posting has numerous inaccurate statements. You wanted to buy a house for $425,000 but what you failed to mention is you wanted to borrow $700,000 to cover the fix-up costs. That is a loan-to-purchase ratio of 165%. Lenders typically lend based on on the lower of the purchase price or appraised value. As you admitted, we had a lender who said he would finance the property if you would offer more collateral. You were able but you refused.
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