Posted by James Strange on July 20, 2003 at 02:04:33:
There may be a way to do this do you have any cash?
James Strange
reiloans@liborhomeloans.com
Help getting a mortgage! - Posted by keith hutson
Posted by keith hutson on July 19, 2003 at 23:39:15:
Maybe someone can help me. I am in need of a mortgage and soon.
I have been leasing my home over 4 years but have a low score. It is around 512 now (CreditXpert score). The home has equity of around $30,000 and the home is in a neighborhood that is appreciating rapidly. Realtors and appraisers project the homes will top $200K by 2005.
I am wondering if I can get a mortgage with proof of income from the employer I have been with about 2 1/2 years but in same field for 29 years. In other words a mortgage without a lot of hoops.
Further, if it takes more in the deal, work out a plan including a down payment grant…or get a first mortgage with a 70-75%LTV asking the owner to hold a second, then after getting the deed get a second to pay him off.
Can anyone help me with this. Possibly suggest a broker that can do this deal? I would like a broker to let me know if this can be done based on the info provided here.
Thanks to all in advance.
Keith Hutson