Please note that at the following website address of : 

http://www.oceantrust.com/Programs/

the following statement is written : 

For Special Credit Needs :

100%, 103%, 107%, 125% Financing Loans With Good Or Poor Credit (Full
Doc or Stated Income)

Non Conforming Loans - No Income And No Asset Verification

so therefore I want to know that what is the 'meaning' of the above
mentioned statement ?? Please provide accurate answer of the above
question.

Hi Shoaib,

I don't think anyone except people with Ocean Trust Mortgage can
explain what that means.  I believe those two descriptions are not
realistic, that is, that an application for such loans will not result
in getting a loan.

My main reason for saying this is that those descriptions do not agree
with the information under the FAQs on what is necessary to apply for
a loan.

"What is the process for getting a loan?
What do I need to do? It seems complicated!
Answer: Four simple steps:
First, gather a few documents together - you should have most of this at hand:

    * last three months' bank statements
    * last two years' W-2s or tax returns if self employed
    * your most recent paystubs
    * a copy of your purchase contract
    * a list of your credit cards and car loans with balances and payments
    * etc... "

Just like everywhere else, no one is really going to make a loan
without verification of income OR assets; this and other sites include
this kind of language in the hope of attracting any and all types of
people who need a loan.

To actually apply, one would have to fill in the application form that
you can find by clicking on "applications" at the bottom of the page,
and then on "Fax or Mail Application".

Ocean Trust Mortgage speaks of its experience in Florida  - no where
else.  I doubt that it has contacts to lenders outside the state.  In
that regard, it is more honest than the outfits that claim they can
make loans anywhere in the world.

It should be easy to contact them and ask them.  They mention a "free
consultation", which immediately suggests that what comes after that
is not free.

Regards, Myoarin

PS:  I cannot add anything to this.  If you don't agree with what I
have said, I am sorry, but any further explanation would only be
repititious.

myoarin-commenter,

please clarify what you mean by:

"PS:  I cannot add anything to this.  If you don't agree with what I
have said, I am sorry, but any further explanation would only be
repititious."

-barneca-commenter (who wishes he had thought of this himself)

Hi Barneca,
It's only a first attempt ...

You've got to earn your wings around here  - maybe combat stripes is
more appropriate.
I understand everything on G-A is copyrighted, but YOU may use it,
with proper credits, of course.

Cheers Myoarin

Lenders make no doc loans.  If you own a house with equity they will
give you loan.  The catch?  You will pay a higher interest, oftentimes
much higher, than a regular loan with the documentation.