Posted on: 30th Nov, 2009 01:07 pm
If the Alaska lender does not participate in the loan modification programs, what other options does a person has if they're credit score went bad -600 but have somewhat caught up with mortgage only one month behind. Hoping to get my payment lower and interest rate lowered. Any suggestions?? :?
Thank you
Thank you
With a reverse mortgage there are no monthly payments or credit qualifications. I am glad to answer any additional questions.
Best Regards,
[Promotional text deleted as per forum rules]
Best Regards,
[Promotional text deleted as per forum rules]
Hi
What is reverse mortgage? I thought that was for older homeowners. I'm in my mid thirties.
What is reverse mortgage? I thought that was for older homeowners. I'm in my mid thirties.
Reverse Mortgages are for those 62 yrs and older. They have no monthly payments and no credit qualifications.
That's what I thought :) I did not think I could be qualified for that. Thanks Guest and hecmrev :) Any other suggestions? :-)))
There are programs still available that allow for a 580 score and 1 month delinquency on a mortgage payment. You will need to have good documentation and explanation for the late payment as well "compensating factors". Please let me know if you have any further questions.
What are those programs? I have not found anything. Please let me know if you know of programs and I will look into them. Thanks Nick Lees
We offer them, a FHA program down to a 580 score
sorry I was not logged in properly and I posted as a guest. We offer that program and it is the traditional FHA with scores down to 580
what are the qualifications for that program? what kind of loans do they offer in the program?
It is a manual underwrite per FHA guidelines and the 4155
Do I just go to Fha.com to see what is being offered?
It is a program that we offer so you can visit my website or give us as a call