IN, Single-Family, Purchase, $90K, FICO, 100% LTV
Posted on 10/27/2014 10:04:42 PM
My family has lived in our home since 1981. When my dad unexpectedly passed away in 2008 my mom took out a reverse mortgage to help cover expenses and some repairs to our home since she lost 2/3 of her income in the blink of an eye. We were under the impression that after she passed away we would have a year before we needed to start repaying the loan. What we didn't know at the time was that we would need to qualify for a mortgage ourselves in order to fully repay the reverse mortgage company. My fiance, my sister and I live in our childhood home with our two small children and we would like to stay but we can't qualify for a traditional mortgage. We have been working at rebuilding our credit scores but none of us are quite there yet. Our monthly income is roughly $5000 so we won't have any trouble making our payments but we just need someone to help us stay in our family home. Will you be the one that can help us save our family home?