Need a Real Estate Loan to Buy a House. HELP!

Hi T.,

I work in a Bank, I can maybe help you. There is other options for you and your husband. I know that the BC market is limited to options right know but there is other better programs out there with better and lower Interest Rate's, specially for first time homebuyer's. Please feel free to email me so we can discuss this futher at ____@____.com thanks.

Hi T.,

It may be easier to get a home loan if your mother-in-law signs a lease on the trailer. We currently have properties (rentals) and have had no problem getting loans. What we needed to do was provide lease agreements of all the properties to show that money is coming in from them and that the mortgages were being paid by others living in the home. I do have a mortgage person if you are interested, just give me a quick email and I will send you her information. Another thing you can do is put the trailer up for sale and have your mil sign a lease so the prospective buyers can not make her leave until the end of the lease. You can create a lease for as long as you want to. Anyway there are some ideas for you and your husband to think about. If you have any questions you think I might be able to answer my email is ____@____.com Luck:)

T...my best friend and neighbors both work for mortgage companies. Right now is not a good time to get a mortgage unless you have pretty good credit. My neighbor works for I think she called it subprime, meaning they finance anyone they can with not so good credit and they are not taking any risks on anyone with not great credit at the present moment.

I have a friend that had 1 late payment on their mortgage 2 yrs ago and they have an ARM right now and cannot refinance b/c of that also.

Just based on what you said, and based on what my neighbors said, it doesnt look promising to get a loan from anyone right now. Too many loan companies are closing up shop, another neighbor worked for capital ones mortgage division and was just given a last day of unemplyment as 9/21, capital one is closing that branch of mortgaging.

Best of luck to you. Sorry I didnt get better news for you.

K.
www.arkparties.com

Can you put the trailer and loan in someone else's hands you trust with all your heart? Like a relative? Of course, they would have to buy the trailer from your husband. That is a tough situation your in. I guess you are kinda stuck unless you have a lot of money for another purchase.
I know of others who have multiple homes, for like rentals and such. Good luck to you.

T.-

From what I can remember from my underwriting days... As long as his mom has proof that she is paying the mortgage (I believe you need to provide the cancelled checks- 6 months to a year) than that took the burden off of the potential buyer-

Good Luck

Hello,
Sorry for your trouble. I have a mortgage broker/friend who specializes in non-conforming (people w/less than perfect credit) mortgage loans and I have referred several family members to them and he was always able to at the very least, give them honest advice. His name is Michael Fine and his office number is 773/792-0600

You should try a broker instead of a bank- brokers work with many different lenders. Be aware though that the broker gets paid more based on how much the bank makes, so you may want to try to negotiate rates.

Some lenders, HFC (Household) and Beneficial specialize in loans for people whose credit is not perfect (not saying yours is bad but it is taking a hit due to already having a mortgage). You could also try them. Good luck.

Editing to add that remember each time someone pulls your credit report it is a hit on your credit so be cautious about having too many hits.

I would check with someone else. My girlfriend has been in the Mortgage business for over 20 yrs, I would give her a call and see what she can do for you. We have gone through her for every house. Her name is Kim her number is ###-###-####

I hope it works out for you.

SEnd me a note with your contact, my hubby can help :-)

Hi T.~
If you'd like to give me some more information about your situation, I can see if I can help you! I'm a loan officer, and we actually use about 50 banks to help our clients get approved. We can work around different credit and financial issues, so I can see about your situation with your mother in law also. You can email me, call me, or send me a personal message if you are interested in talking, and I can see if I can try to help you. My email is ____@____.com or you can call me at ###-###-####.
Either way, good luck!!