Posted on: 22nd Jul, 2010 12:40 am
We are trying to obtain a conventional loan for a second home purchase, but have been denied because of a foreclosure is more than 5 but not yet 7 years old. What do we do now? Our current home has already been rented out as of 8/15/10 and our mortgage was denied at the last minute because of this new 7-year ruling. Our credit is fine, the house appraised for more than the purchase price. Everything is golden with the exception of the new 7 year rule (it was 5 years until very recently). We need to close on this home on 8/11/10. Can anyone help get us into a mortgage?
In what state is the property to be purchased located??
Gainesville, GA
Gainesville, GA
I am not licensed in Georgia.
I suggest calling Shane Milne at 949-322-3616 or email him at:
shane@the besthomeloans.com
I do not know Shane. I read his responses to questions in several mortgage blog sites and he is an expert and last I knew he could do business i all but one state.
I suggest calling Shane Milne at 949-322-3616 or email him at:
shane@the besthomeloans.com
I do not know Shane. I read his responses to questions in several mortgage blog sites and he is an expert and last I knew he could do business i all but one state.
THANKS