Financing in Huntsville>Question Details

tegra69, Home Owner in Alpharetta, GA

Is there any lenders who willapprove ahouse loan if already own a house and delinquent on the second mortgage?the fist mortgage being paid

Asked by tegra69, Alpharetta, GA Thu Dec 13, 2012

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No, all mortgage underwriting guidelines will not allow any late mortgage payments in the last 12 months. All mortgages the borrower has must be paid on time for a minimum of 12 months. Should there be a 120+ day late, then that is treated like a foreclosure and a waiting period of at least 36+ months would then apply.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
0 votes Thank Flag Link Fri Dec 14, 2012
You should check with a local mortgage company or bank for that specific information. Realtors are not experts on finance but do have a good working knowledge of the process and know the local lenders to refer you too. You will need to know your credit score and payment history before you call the lender to speed the process. Good luck.
0 votes Thank Flag Link Fri Dec 14, 2012
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