our bankruptcy has been paid out aver a yr now .does anyone know who we can call on
2006-09-07 05:38:46 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
Helo There,
You are not out of options!!!
It is definitely a positive for you that you are out of bankruptcy for a year now...
Are you looking to purchase a house, or refinance a current mortgage loan?
Either way im sure i can help...
The thing for all that are reading this posting to remember is that ALL BANKS have different guidelines in which they lend out money...
Your typical Big Bank that you do checking and savings through, (bank of amerrica, chase, national city, wells fargo, washinton mutual, etc.) Are what you calkl CONFORMING LENDERS...
These lender sONLY lend to people with a 640 credit score or above... Most people go to them first because they have checking through them...They get denied, and think that no one will approve them...
What alot of people out there fdont realize is that there are lenders out there that SPECIALIZE in low credit borrowers...These lenders are called NON CONFORMING, or SUB-PRIME lenders...
I myself work with Providential Bancorp.. We are a nationwide mortgage lender that specializes in your below average credit customers, high LTV (100% financing), bankruptcy's and foreclosures in the past, etc...
What you need to do is have someone such as myself take a look at your situation, and give you an analisys... From there if you like what is offered we can mover forward... If it doesnt work fo ryou, you arent obligarted to a thing...
I want to be clear that this is not meant to be a sales pitch... I have been helping people on this site for wuite soem time both buying houses and refinancing existing mortgages to lower rates, payments, pay off debt, etc..
I would be happy to do the same for you and at least let you know what you qualify for...
Good Luck!
Jason Fry
Providential Bancorp
312-264-6448
jasonf@providential.com
2006-09-08 06:30:22 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you have never purchased a house before, then you aren't as lost as you think. There are MANY programs out there for getting loans to people with bad credit/bankruptcies. Wells Fargo Home Mortgage is a good choice for people with really bad credit.
2006-09-07 07:22:22 · answer #2 · answered by dishmal 2 · 0⤊ 0⤋
There are investors that buy, improve (maybe), and sell properties at a huge profit. They often sell the home on a lease option or "owner will carry" basis with no qualifying. Be careful because a lot of them are hoping or planning to foreclose at some time. If it is cheaper to rent - keep on doing that and save the money for a down payment.
A wealthy family member or maybe even your employer would be willing to loan with a first deed of trust and more interest than they are getting on a money market or CD. Don't know till you ask.
2006-09-07 05:55:01 · answer #3 · answered by justwondering 6 · 0⤊ 0⤋
call a mortgage company and they will run your credit and tell you what needs to be done to get a mortgage loan. As for buying a home with no money down, i have done that. you have the sellers pay your closing costs but you have to pay alittle more for the house to cover this. the money ends up in with your mortgage. you still need to have a few thousand tucked away to pay up front costs and you wil lpeobably get a check at closing.
2006-09-07 05:46:05 · answer #4 · answered by Queen of the Dachshunds 5 · 0⤊ 0⤋
Samuel Jones Jr, Senior Loan Officer is a great mortgage broker out of New Jersey. Not sure what state you are in but if you can give him a call, maybe he can refer you to someone in your state or tell you where to look. He's also good at helping you restore your credit. His number is 973-494-5400 x 104
2006-09-07 05:43:17 · answer #5 · answered by elmb 2 · 0⤊ 0⤋
A lot of companies can work with this. I would submit your info on getsmart.com or compareinterestrates.com. That way you don't have to waste time looking for lenders that can work with this type of credit. The systems will ask you about bankruptcies and list your credit as being poor-fair.
2006-09-07 06:01:47 · answer #6 · answered by KL 5 · 0⤊ 0⤋
2006-09-07 05:41:39 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Move to a trailer, sounds like you belong there. AND PAY YOUR BILLS!!!
2006-09-07 05:41:35 · answer #8 · answered by Anonymous · 0⤊ 1⤋
me too.
2006-09-07 05:40:50 · answer #9 · answered by Jep 3 · 0⤊ 0⤋