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Athas Capital Group Inc
26901 Agoura Road Suite 250
Athas Capital Group, Inc. was founded on the basis of providing large scale product availability with a boutique style service platform to give our clients endless opportunity but at no expense for service. The company was founded by Brian O'Shaughnessy w...
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More subprime borrowers may now be able to obtain mortgages
"We've done enough loans to prove to us that it's a product we're going to continue to grow," Brian O'Shaughnessy, head of Athas Capital Group in Calabasas, Calif., which began making subprime loans nine months ago, told the news agency.
"If I wanted to go refinance ...
"If I wanted to go refinance my house or buy a new house to live in and get a stated income loan, I couldn't do it," says Brian O'Shaughnessy, CEO of Athas Capital Group, based in Calabasas, Calif. "It is against the law to get a stated income loan for a consumer loan.
Many of our clients end up putting down 35-50 percent," O'Shaughnessy
says that many of his
clients use these loans to buy another rental property to better their cash flow, or they are flipping a property to sell but need a loan to get through the remodeling stages.
Some people use the loans temporarily because they have a big cash advance coming at the end of a year but can't pass up on a certain investment property.
Some investors don't want to use up all their cash to purchase a property, so they use these loans to keep a portion of their own capital to use for other investments.
"Stated income loans are growing.
It's a jump from hard money loans," O'Shaughnessy
"We call it the sane subprime," ...
"We call it the sane subprime," said Brian O'Shaughnessy, chief executive of the Athas Capital Group, which gave the Arroyos their loan.
Athas Capital Group
26901 Agoura Rd Suite 250
Calabasas Hills, CA 91301
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"We've done enough loans to prove to us that it's a product we're going to continue to grow," says Brian O'Shaughnessy, Athas' chief executive officer.