Success Stories

Helping a Veteran with Cash Out Refinance

There is nothing more rewarding than the opportunity to give back to those who dedicate their lives to serving our country. At Loandrone, as an authorized VA Lender, we value the Veterans and strive to provide an excellent customer service experience in appreciation for their service.

Navy Veteran Mark was having a hard time dealing with multiple big banks that promised to help him. These big banks only ended up worsening his credit score from failed loan transactions. One of the big banks, through which Mark had a second mortgage, became bankrupt. Unfortunately, the bankrupt lender wrote off Mark’s debt and could not record it correctly with the county, leaving him with inaccessible debt that negatively affected his credit. In another instance, a big bank couldn’t close his refinance transaction which  resulted in the loss of appraisal for Mark. It seemed like there was no end in sight for Mark until he received an invitation to Refinance in the mail from Loandrone, Inc. 

Mark’s goal was to use a minimum amount of cash-out from his home and pay off the maximum amount of his debt (all of it), including the IRS, credit cards, delinquent property taxes, and title liens. Paying off all of his debt was vital as his debt continued to grow, impacting the quality of his life and his family’s.

Our loan officer knew he had a challenging task at hand and needed to begin by tracking down all of Mark’s title liens. The lien coming from the bankrupt mortgage company was the most crucial lean to be tracked down. The loan officer gathered all the necessary paperwork to have the county record and clear this lien. The process required a deep understanding of mortgage guidelines and government regulations. It was a time-consuming process and frustrating at times; however, with some perseverance from both Mark and the loan officer, they could accomplish what they sought to achieve. Our loan officer was able to track down  every single lien and have them paid off. The end result was that the cash-out loan for Mark consummated successfully with Loandrone, Inc. and Mark was finally debt free.

Today, Mark is a proud homeowner whose title is cleared, received the best rate available, and only owes his monthly mortgage payments. After completing his cash-out refinance, he was even left with 25k extra in his pocket for him and his family. Mark found peace of mind and is able to sleep well knowing that his financial troubles are behind him.

At Loandrone, we help give Veterans like Mark the opportunity to start fresh. We are honored to help Veterans every day, as all men and women of service have helped us in more ways than we will ever know. Your financial wellness is our ultimate goal.

If you are a Veteran and are looking for Cash-Out Refinance please give us a call at 888-503-2826