Financing in Chicago>Question Details

dfrascati, Home Buyer in Winter Garden, FL

I need a mortgage for about 125,000.00, and my credit score is 647 and I have a ch. 7 discharge 6 months ago. Is there a private lender who will work?

Asked by dfrascati, Winter Garden, FL Tue Jun 11, 2013

with me on this???

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Answers

8
reach out to Wesley

Our Team | United Equity Mortgage Corp.
http://www.unitedequity.us/our-team.html‎
15+ items – Wieslaw (Wesley) Jura Vice President. NMLS ID 225274 ...
Wieslaw (Wesley) Jura Vice President. NMLS ID 225274
Paul Gondek Senior Loan Originator. NMLS ID 226276
773-304-3412.
773-304-3414.
0 votes Thank Flag Link Mon Jun 17, 2013
You may be able to work with a Hard Money lender - but this will be tough
I have a few sources but the loan amount is too small for their criteria.
good luck witht your search
Sam Sharp
Senior VP of Mortgage Lending
Guarnateed Rate
0 votes Thank Flag Link Thu Jun 13, 2013
If a Realtor answers this question, you should run. That is not their expertise. There are programs for financing many individuals and you should work with them rather than unknowledgeable real estate agents. Reach out and ask for referrals and you will learn that there are indeed opportunities for you.

Rusty A. Payton, Broker
iMove Chicago
1225 W Morse
Chicago, Illinois 60626

773-856-6200 [Office]
773-856-6201 [Fax]
773-800-1051 [This number reaches me anywhere!]

e. payton@iMoveChicago.com


http://www.iMoveChicago.com

blog: iMoveBlog.com
0 votes Thank Flag Link Wed Jun 12, 2013
Unfortunately, it will be tough for you to get financed unless you have a very large down payment with enough collateral and assets to secure the loan by a private lender.


Sohail A. Salahuddin | Founder and Team Leader

Innovative Property Consultants Group | Sales and Leasing

http://www.innovativepropertyconsultants.com



Jameson Sotheby’s International Realty

425 W. North Ave. | Chicago, IL 60610 


O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030

"Extraordinary Service For Extraordinary Lives"
0 votes Thank Flag Link Wed Jun 12, 2013
Private lenders should not be used for owner occupied homes, many states have laws that forbid this. A private loan or hard money is best for a home bought to fix up and sell as the interest is high and term of the loan is very short, usually a year or less. Meet with a local and truste dlaon officer, get pre-qualifed and do it the right way
0 votes Thank Flag Link Wed Jun 12, 2013
My web site has some lender references. Give them a call and see what they might be able to do.
0 votes Thank Flag Link Wed Jun 12, 2013
Go and Rent for the time being.
0 votes Thank Flag Link Tue Jun 11, 2013
There may be private money, but it will be very expensive and the terms will be punishing. Be smart, rent, get our credit back up to the mid 700s and get a loan on good terms.
0 votes Thank Flag Link Tue Jun 11, 2013
Thank you for getting back to me so quickly. I would love to do that but the problem is I have a child with disabilities and needs to be in this school district for 1 more school year, and rentals in this area for school district are crazy and units are too small, for us if it is affordable. I feel like I am throwing money away.
Flag Tue Jun 11, 2013
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