Posted on: 25th Mar, 2009 10:17 am
Ive been trying to help out a homeowner in south carolina that has a doublewide mobil home that passed all hud guidlines, structural engineer the whole 9 yards. Individual had a 570 credit score, debt ratio not an issue, and the loan to value is under 80%. Originally i had him approved FHA but my company changed policy for no manufactured housing. is there anyone that can help him out. I feel for him, ive been trying to point him in the right direction for months. His rate is extremely high, not late on his mortgage now but i fear he would do so if no help would come. Please shoot this out to whomever you know, its 75k loan cash out to pay off 2 credit cards. any help would be much appreciated even if its a name and number of a company that may be able to help him out.
Thanks---- John
Thanks---- John
bad wording. 75k loan paying off 2 credit cards and his mortgage. total cash out about 5k.
Welcome jmurphy,
With a credit score of 570, it would be difficult for your friend to get a mortgage. The minimum credit score required for a FHA loan has increased to 620. However, if you have a good credit score, you can cosign for your friend.
Your friend can improve his credit score and then look out for loans. To know more about improving credit score, check out the following link:
http://www.mortgagefit.com/credit-rating/credit-repair.html
With a credit score of 570, it would be difficult for your friend to get a mortgage. The minimum credit score required for a FHA loan has increased to 620. However, if you have a good credit score, you can cosign for your friend.
Your friend can improve his credit score and then look out for loans. To know more about improving credit score, check out the following link:
http://www.mortgagefit.com/credit-rating/credit-repair.html
He could have a co signer with good credit help him out. His home appraised at 92k, im just trying to help this guy out. is there anyone that would entertain lending to him? i feel for him, he has done nothing but make his payments, pay out for a bunch of things including structural engineer with another company, has an adjustable rate. can anyone possibly help with a co signer and if so name and number would be much appreciated by myself and the homeowner.
Hi jmurphy,
It's good to see that you are indeed concerned about your friend and very much eager to help him out. It's truly appreciable.
Given the market condition, it is tough to qualify for a loan with a credit of 570 and there is little I can personally do that can help your friend. But hey, Why don't you discuss this the community lenders? They can well have a solution to this issue. Who knows? After all there's no harm in doing so. You can go for a no-obligation free consultation with the community lenders and see if they can help you in any way.
Thanks,
Jerry
It's good to see that you are indeed concerned about your friend and very much eager to help him out. It's truly appreciable.
Given the market condition, it is tough to qualify for a loan with a credit of 570 and there is little I can personally do that can help your friend. But hey, Why don't you discuss this the community lenders? They can well have a solution to this issue. Who knows? After all there's no harm in doing so. You can go for a no-obligation free consultation with the community lenders and see if they can help you in any way.
Thanks,
Jerry
would you be able to email me on my personal email @ "johnilluminati@yahoo.com"? i dont want to give contact information out over the forum
[Email address deactivated as per forum rules]
[Email address deactivated as per forum rules]
i was the guest in that post. I didnt log in.
Hi jmurphy,
Jerry is right. You can seek no-obligation free consultation with the community lenders. They would possibly be able to help your friend in this regard.
However, I do understand your concern about disclosing your personal information online. But as far as I know, these guys are very serious with your privacy. I've gone through their privacy policy and it states they do not share it even with lenders, banks or other mortgage companies, unless you give them your consent to do so. Moreover, when you enter any information in the free consultation form, it doesn't show on the forum and it is not shared with any other members of this community. So, I'm sure the information you share with these guys will be safe and cannot be viewed by others.
Jerry is right. You can seek no-obligation free consultation with the community lenders. They would possibly be able to help your friend in this regard.
However, I do understand your concern about disclosing your personal information online. But as far as I know, these guys are very serious with your privacy. I've gone through their privacy policy and it states they do not share it even with lenders, banks or other mortgage companies, unless you give them your consent to do so. Moreover, when you enter any information in the free consultation form, it doesn't show on the forum and it is not shared with any other members of this community. So, I'm sure the information you share with these guys will be safe and cannot be viewed by others.
Give me a shout. I may be able to help you out.
