Can a lender out there help me refi?
Chuck - hi! I've read through the responses and they all seem to be correct and providing you with the information necessary. I am a mortgage broker in Indiana - please give me a call at 260 221 0030 - (mobile number) - we can discuss your situation. I believe that they are trying to qualify you under...
Any suggestions on what I should do?
Hi Michel! The HARP program permits for you to finance your escrows into the loan - along with the standard closing costs. You should not have to come to the table with any money. The market is has been up -BUT pricing seems to be have improved slightly today! You ae welcome to give me a call at: 260 221 0030. I...
Bank of America turned me down
I am a mortgage broker in Indiana - -please go to our website or give me a call for more information. I can work on the transfer of your existing - and if there is truly LPMI then we will seek alternative financing to accomplish the same goal. Give me a call or visit our website: www.Lechelmortgage.com260 221...
Joint Deed
While not on the note you have equity interest in the property. If the payments are not made and the lender initiates foreclosure then it would tie up the property for a long time and if you desired to liquidate the asset you could not necessarily do so in an expeditious or pain free way. It would be better to...
fha loan minimum
Your best source of information on this topic could likely be found at HUD official website www.hud.gov or www.fha.gov. Even if fha will insure a low loan amount doesn't mean that a bank or mortgage company will do the same as low loan amounts are very costly to a lender.
203k loan
Yes. Seems like a small project for a 203k refinance though. While I do these type of loans there are other options as well. Give me a call: 260-348-7519.
do you need a downpayment
You could have the option for a no down payment loans. James in this post thread answered the question well. www.LechelMortgage.com or www.IndianaHousingPrograms.com
Can somebody help us understand what our options are?
I would suggest that you contact First Guarantee Mortgage Corp., as they go of the BK discharge date not the date of deed transfer. I am a 15 year experienced mortgage broker in Indiana and the deed transfer date would not be an issue for me although I am not licensed in your state. Here is there phone number:...
Re-fi after chapter 7?
I can help you if you have made your payments on time for 12 months. Larry@LechelMortgage.com. 260-348-7519.
Can I purchase a home with FHA or VA and get funds to add on an inground pool?
I have reviewed the answers given by my peers and I am proud to say that this forum is filled with knowledgeable people. I have been in the business since 1998 and I have witnessed many "loan officers" give bad advise and everyone here appears to be spot on with their direction.
FHA OTC Lender
I would suggest that you explore you options with the gentlemen below that say that they have a source for funding. Many times there are products that FHA will insure but no lenders that will write and fund the loan.
We have a conv loan, first at 168,900, second 47,790 appraised last yr for 193,000.
William at Velocity answered well. I am licensed in both Indiana as well as Michigan. I would love to help you but check me out first. My website is www.LechelMortgage.com and my LinkedIn page is: http://www.linkedin.com/profile/view?id=83544012&trk=hb_tab_pro_topI have information on the...
On average, what percentage of a loan do closing costs make up?
In the mortgage loan broker world it will vary depending upon the following factors: 1) Which lender it is placed with 2) Whether the broker is paid by you the consumer (called Borrower Paid Loan B.P.C.) or a by the lender (Lender Paid Compensation L.P.C.), and 3) The State and location of the property. The...