Looking for a Bridge loan for about a year or so, client has good credit, lost house in Houston flood and has settlement of 110K, needs another 55K for Bridge. Credit is supposed to be good though I haven’t checked it as of yet. Thought I would inquire early being as how I have no experience with Bridge Loans and how they work.
Need a lender who will go to 100% on construction loan
Hello everyone! I have a borrower with 640 credit scores who needs 100% LTV on new construction loan (or as close as possible) in Indiana. Are there such lenders out there? Or anyone who’ll go 80/15 piggyback? or even someone who might apply sweat equity to the downpayment. Any suggestions? Thank you in advance for your help.
Need advice in TX
I have two vehicle loans, each over 550.00 per mo.Had bankruptsy one year ago. I now am in high cost area, with bills piling up. Not a home owner. Thought about voluntarily giving up one vehicle. What would happen? If they auction car, can they bill me for rest if they only get a little for car? Will they bill me all at once? Can they garnish my wages. I am stressing. Have wife, two kids, and expenses. What now?
Some direction and possible solutions
I have good friends that are working with a realtor at the moment. Because of some past credit dings their realtor who is a mortgage broker wants them to go into an FHA program I believe their FICO is around 590-600. However theÂ loan amount is limited to the county limit of 160,000. The need to mortgage about 180,000 to 185,000. The value of the home is arount 200,000.any ideas on how to get this done in a covenntional product or will the they have to go to a sub prime product. Their monthly housing expense is going to double I have high back ration but good employment and some assets. Any suggestions would be appreciated.