Posted by Blane (MI) on January 02, 2001 at 15:38:39:
Where I’m at Conseco was looking for 5% down on a loan, and their income requirements were fairly liberal. That is until recently. They are taking back a lot of repos and are trying to get them sold off again before taking on any more obligations. Your good credit, little cash scenario may work with them, but I don’t know if they do loans as low as 5K.
Based only upon knowledge of my area, I say: BEWARE CONSECO. They’re having problems right now and seems will do almost anything to unload a repo. For example, a person couldn’t get approved through them for a $20,000 new home, but could get approved for a $56,000 repo. Watch for them trying to get you into more home. Look into other lenders as well, and good luck.