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Question By
harrym719

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How to refinance without an income?
Retired with "enough" assets but difficult to get refinanced without an income. Know any good companies that lend to those in my shoes?

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With assets you can usually obtain a 1% loan on your funds, instead of having to liquidate. Also called borrowing on margin.

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Reply by
mindjazz

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I'm assuming your income is from your dividends. Have you tried to obtain a loan the institution which houses the majority of your wealth? Chase banking/ mortgage and Bank of America take your assets into account when lending.

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just because you're reitired doesn't mean you don't have income. my question is, if you don't have any income, how are you going to pay your loan back?  no income loans are usually reserve for self employed borrowers, who have tons of income, but for tax reasons show very little to no income. these loans are possible for SE borrowers with great credit. however, retired persons maybe not be able to obtain a no income loan. have you considered a reverse mortgage? 

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