Posted by garth on December 20, 2002 at 16:55:05:
If you have enough equity say more than 35% you could
try a hard money lender also seek a partner with better
credit.
Here is a page with info on improving credit and bad credit loans
Bad credit no money down. L T V 50%/ - Posted by kenny
Posted by kenny on December 19, 2002 at 15:18:00:
We have 2 house which are available to us, for $43,000,
( 1 for $20,00 0r less, and the other for $25,000 or less ).
The tax assessment for these are $93,070 ( $,38,530 and $54,540 )
According to the surrounding property values,
they will be relisted at over $100,000,( $54,540 and $70,000 )
after minimal work.
I am an 18 year veteran carpenter.
My credit is not so good ( especialy after recieving a $9,200 counterfiet
cashiers check this year from a motor vehicle sale ),and we have no money to
put down, BUT are
hopeful the current property value itself will help with this, as the loan
to value ratio would be below 50 %.
We need $45,000 or less to close, but would like
to have an extra $7,000 for beautification and the little rehab there is.
No payments for a set amount of time( 3-6 months ) would also be a plus .
We are looking for a maximum loan period of 24 months, but a 30 yr over all
( to keep payments down ), with a balloon in 12-24 months,
as we intend to clean up our credit and re-finance,and/or relist.
I am looking forward to hearing from you,and am flexible on
terms and conditions of loan.
My annual income is $10,000 average, i am 38 yrs old with not good credit.
How can i get a loan without verifying income , which may be better than verifying a low income ?
Thank you for your time
and consideration .
Best reguards to you
and your loved ones
this Holiday season
and ALWAYS !!
Our love and prayers to you and your loved ones !! GOD bless you all !!!
Kenny. DeBusk.
P.S. Do you know “the reason for the season”?
Property is located in Iowa.