Credit Score in Milford>Question Details

Cheryl Viner, Renter in Milford, PA

credit score 618 on the mend.

Asked by Cheryl Viner, Milford, PA Wed May 29, 2013

I am working on repairing my credit and have the ability to do a lease to own. I need to close on the house in 3 months or less. I know i can get a score of 620 to qualify..however, i need a hard approval letter to close the deal. I need to work with a sophisticated Mortgage specialist who understands complex deals, credit and mortgage underwriting. i am a serious buyer. I have the income, long standing history with same job. I went thru bad divorce, post foreclosre 6 years. I am being told i need to wait another 2-3 years. All new credit is excellent.

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Answers

3
Cheryl,

Did a mortgage professional tell you, you had to wait an additional 2-3 years to own a home? They unfortunately, misinformed you. It's 3-4 years post foreclosure depending on the loan (conventional of FHA). You have cleared the time frame for either program.

If you would like free help to boost your credit scores please visit my blog here on Trulia, or go to our website.

Best of Luck & Have a great day;

Christina Solorzano;
CEO & SR Credit & Mortgage Consultant of
Everlasting Credit Repair
Making home ownership more than a dream...
Retired Mortgage Banker
http://www.everlastingcredit.com
https://www.facebook.com/EverlastingCR?ref=hl
0 votes Thank Flag Link Tue Jun 11, 2013
Cheryl,
If your income and debt ratio are in good shape you should be able to purchase with a 620 score.
I'd be happy to assist you if you are lookiing for another lending option besides Alan.
Always feel free to call or email and thanks for the opportunity to earn your business.
Chad
Chad E. Bahnsen- Mortgage Originator, NMLS# 127719
Mortgage Network, Inc.- Corporate NMLS# 2668
14 E. Stratford Ave Ste 3C
Lansdowne, PA 19050
Cell: 610-457-7262
Office: 610 622-2212
Fax: 1-866-590-3806
E-mail: cbahnsen@mortgagenetwork.com
http://www.chadthemortgageman.com
Licensed by the Pennsylvania Department of Banking and Securities
0 votes Thank Flag Link Tue Jun 4, 2013
Hello Cheryl,

I am that person. I am not sure why you are being told another 2 to 3 years if a foreclosure is 6 years old. I think we can get you what you need now, even without the 620 scroe.

Hello Joe,

Good speaking with you this morning.

Can you please send me a spreadsheet of your properties address, current rent, current mortgage payment, taxes and insurance (condo fees if applicable).
Also lender name and mortgage amount on each property.

Best Regards,
Alan Openshaw
Cornerstone Lending
VOTED BEST IN BUCKS 2010 & 2012
Cell 267 992 7276
Office 215 953 0800
Fax 215 953 1706

Licensed by the PA Department of Banking
NMLS License # 143960
Equal Opportunity Lender
http://www.twitter.com/RightMortgage4U
0 votes Thank Flag Link Thu May 30, 2013
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