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calling loan advisors!!

Date: Wed, 05/06/2009 - 17:36
Submitted by on Wed, 05/06/2009 - 17:36
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hi. my situation is hopeful..Any way my credit score is lower(fico estimater 620-670). I want a morgage for a single family home. I have collections and charge off that have been paid/settled and most are 6 yrs old. I have a good car payment for 2+yrs..I do have one open collection for 900 for an auto lease charge off, i paid all payments for my lease agreement and paid the x-tra mileage, and the dealer at turn in has closed shop-so no one will tell me what its for..and it was charged off in 8/05ish....

My husband is in the same boat..i do not know his credit score..but currently he has a morgage w/3 late pays from last yr(i was laid off) he has collections and charge offs about 6 yrs old..he has 3000 open collection accounts...

here's the good news: i work everyday, he works everyday, we own a 2 small bussinesses, and have 25,000 equity in present home, he owns a property(w/out morgage) thats valued @ 40,000(in 1991 last appraisal)...our combined w2 income is 55,000, our total schedule c income 25,000........

Is there any loan out there with decent terms for us out there? We have worked hard to get outta debt and continue to do so everyday..but i don't want to be hosed w/apr on new loan...also current home is a duplex which will give us another 6,000 income once we move...Need advise....


I am not sure about the loans with decent terms. But I do know that you will get replys that are scams. So before you give out any personal information PLEASE check out the company that is offering you a loan. Make sure they are licensed to lend in your state. I have seen many reply to posts that are not ligit.


Submitted by puddlejmpr on Wed, 05/06/2009 - 17:50

puddlejmpr

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ty


Submitted by on Wed, 05/06/2009 - 17:55

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I wouldn't use a broker. I would go with a bank. With your situation you should have no problems getting financed. It fits in the guidelines in our company and I work for a Nationwide Credit Union.

Here's another thing to consider. If your loan is an FHA loan then you can streamline the loan without having your credit checked and without having the home appraised.

I hope this helps.

I responded because I didn't know if any of the above folks were actual loan officers.


Submitted by sassy_lil_brandy on Thu, 05/07/2009 - 07:06

sassy_lil_brandy

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