Is this loan possible with other lenders?? - Posted by Mariam

Real Estate Investing
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Posted by Mariam on February 07, 2004 at 09:52:28:

Thanks, Jim. I will do what I can to help her with the advice you have given.

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Is this loan possible with other lenders?? - Posted by Mariam

Posted by Mariam on February 07, 2004 at 08:45:56:

Hi, there!

I am being consulted as a real estate agent with this question…“we have till the end of the month to do financing. All seemed well until last weel and our house almost done, they told us we can not be financed. My husband has a child support debt that has been in dispute for years and I asked the lender if everything was going ok and for this loan to go through, they said yes
until now! We do not have any debts or owe any money besides the child support which I did offer to pay in weekly payments to help pay it off even though its in dispute. Can you help? We are first time buyers and do qualify for incentives.”
She wants me to help as a real estate agent. I have a license, but no experience. Is there any lender out there that would assist this situation??

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Re: Is this loan possible with other lenders?? - Posted by Randy (SD)

Posted by Randy (SD) on February 07, 2004 at 09:48:13:

The issue of child support arrearages is a tough one. It depends on if there is a judgment or garnishment. How is it in dispute? A court order for child support is not disputable on its face. The defendant was served; an order was entered in the courts? done deal. Payments are due until the court amends the order, but that?s not the subject here. If possible suggest your client offer a settlement, often times CS arrearages can be settled for .50¢ on the dollar in cash. If a settlement can be reached or depending on the amount and the overall package I can refer you/your clients to a lender that will provide the funds.

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Re: Is this loan possible with other lenders?? - Posted by Jim Fox

Posted by Jim Fox on February 07, 2004 at 09:25:43:

None of the information presented in your question has anything to do with qualifying for a loan.

Lenders are falling all over one another for business. Look up “mortgage brokers” in your phone book and pass the number on to your friend.