Financing in Orlando>Question Details

Jeremy Weinb…, Real Estate Pro in Seminole County, FL

I have a VA buyer in Orlando, FL that needs financing, tricky circumstance please read.

Asked by Jeremy Weinberg, Seminole County, FL Thu Oct 31, 2013

My buyer filed bankruptcy over 3 years ago. He had several properties at that time that have still not foreclosed. The issue is his name is still attached to these properties even though he filed bankruptcy. We were in contract on a home in the 290k range and the lender would not finance him for a VA loan due to the properties not being foreclosed. This VA lender required 3 years from the time of foreclosure. If you are a lender and you think you can get my buyer financing, please contact me.

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6
Hi Jeremy:

I have a superb lender that I use and his specialty is actually VA. He has closed loans for me that other lenders could not. That being said below is his info, feel free to contact him and see if he can work around this particular issue:

Jason Hicks
Senior Loan Specialist
NMLS# 130416
8400 W. 110th Street, Suite 500
Overland Park, KS 66210
888.852.2212 ext. 5862 Toll Free
913.387.5862 Direct
913.387.3762 Fax
jhicks@mloausa.com

Hope this helps.

Abraham Bidhendi
Top Producer Realtor® with over 26 years of experience
Awarded as Exit's TOP Buyer side Transactions for the State of Florida
Exit Realty Access, LLC
Direct: (407) 744-2533
Fax: (407) 444-9925
Email: REOsofflorida@msn.com
Search Entire MLS At: http://abidhendi.orlandopropertiesonline.com
Kissimmee Office: 391 N. Main St., Kissimmee, FL 34741
Altamonte Springs Office: 660 Palm Springs Dr., Suite D, Altamonte Springs, FL 32701
2 votes Thank Flag Link Fri Nov 1, 2013
You don’t mention if he is current on the mortgages, if he is in default then the VA is just like any other type of loan.

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
Web Reference: http://jamessimms.com/
1 vote Thank Flag Link Fri Nov 1, 2013
I have a lender that can do this loan for your client, foreclosure is not a problem if he can qualify for the HUD back to work program which allows him to be eligible just 12 months after. Have them go to our site or email me for help.
0 votes Thank Flag Link Thu Nov 14, 2013
VA Loan Requirements
VA Home Loan Guidelines

Before you start the loan process, you'll need to have some information at hand for all loan applicants:

Social Security numbers
Residence addresses for the past two years
Names and addresses of your employers over past two years
Your current gross monthly salary
Names, addresses, account numbers and balances on all checking and savings accounts
Names, addresses, account numbers, balances and monthly payments on all open loans
Addresses and loan information of other real estate owned
Estimated value of furniture and personal property
Certificate of Eligibility and DD-214 (for veterans only)
W2's for the past two years and current check stubs
For self-employed individuals, you will need to provide personal tax returns for the past two years, current income statement and balance sheet for the business

In addition, you will need to pay for a credit report and appraisal of the property.
0 votes Thank Flag Link Thu Nov 14, 2013
Contact Grant Simon at Waterstone Mortgage.. he is the best with VA !
0 votes Thank Flag Link Thu Oct 31, 2013
Hello Jeremy

Were these properties included in the bankruptcy? if so then there should be no issue, pls call me to discuss




Tom Bawany | Mortgage Loan Originator | NMLS #519971
Real Estate Mortgage Network, Inc.
500 Winderley Place, Suite 112
Maitland, FL 32751
F: 866.552.6351 | C: 407.924.2759
E: tbawany@remn.com | http://www.remn.com
0 votes Thank Flag Link Thu Oct 31, 2013
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