Lenders wanted

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?

REPLIES
  • by Larry Penilla on 12/3/2014 10:03:06 AM

    You didn't mention whether or not your mother is still alive and living in this home. That, along with your financial situation will determine your options. If your mother has passed, the clock is ticking -- you only have so much time before the lender will force a sale or foreclose. Depending on the equity and your qualifications -- you may be able to buy prior to foreclosure. If you want to speak to a very experienced Indiana mortgage banker, give me a call. 219-794-0600 x241.

  • by Michael Washington Maverickfunding on 11/1/2014 1:46:01 AM

    My name is Michael Washington of Maverick Funding i hope it's not to late with helping you with your Financing so if you give me a call over this weekend i would love to speak with you more about it my contact number is 443-467-3578. So please call and we will get this in a timely matter.

    Michael Washington

  • by Janice on 10/30/2014 8:15:18 AM

    Is your mother still alive and living in the home? Since you have good income, you can give her money to make payments to re-pay the loan now while she is still there. There are no re-payment or pre-payment penalties for doing that. She can contact the loan servicer for details on how to do that.

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