Posted by spellmc on November 11, 2002 at 18:06:22:
Try a Nehemiah and get all the details and see if that will work for ya. GOOD LUCK ssm
home mortgages - Posted by joddie kesee
Posted by joddie kesee on November 08, 2002 at 24:32:16:
I buy and sell homes and deal with a lot of people that have marginal credit. I can generally get them a 80%LTV financing on a home and they rarely have enough money for the total down-payment plus closing cost
ie.(100,000 home requires 20,000 down +closing cost )
My customers will generally have 5000-6000 down and their is not enough margin for me to carry a second lein.
If anyone has any ideas on how to overcome this large down-payment obstacle …please inform me.
thanks jkesee in houston.tx
Re: home mortgages - Posted by GMann
Posted by GMann on November 09, 2002 at 19:26:34:
I would call some of your local mortgage brokers and see if they have Fannie Mae Expanded Approval Programs.
Here’s the deal…Fannie Mae is has been in the subprime market for a couple of years now. THEY DO NOT REQUIRE OWNERSHIP SEASONING TO DO A REFINANCE. You can seller finance your property and then refinance them into another mortgage. NO MONEY DOWN!!!The approval process is automated so you could get pretty quick answers.
Take advantage of this before it goes away!!!
By the way, if these programs are being offered in TX (you have funky laws) and the current broker you are working with hasn’t thought of this. USE SOMEONE ESLE! I’m not trying to be rude, but this is fairly common knowledge in the mortgage community and they should be up on their game.