The U.S. Department of Housing and Urban Development (HUD) recently announced the â€œBack to Work â€“ Extenuating Circumstancesâ€ program, aimed to help people who have lost their home through foreclosure, short sale or bankruptcy. HUD has reduced the previously required minimum of 36 months to 12 months before they may be able to finance another home, given that they meet HUDâ€™s minimum eligibility requirements.
They have a program called Flexible Credit Loan which seemed too good to be true, but I have heard that many got approved and now have a pending offer, even after the short sale less than two years ago. Big banks said it could not be done.
Obviously it can.
Randy Roberts claims the following in his Trulia profile: http://www.trulia.com/profile/thelendersnetworkllc/
"Started my career in the world of finances and banking, after I got married I opened my own Real Estate company with my partner, Randall. We have been focusing on helping average americans live the American dream even with credit issues. Our main focus is originating loans nationwide, and Realtor referrals nationwide. Randall and I owned a credit repair company and know the in's and out's of credit, no offense but 99.9% of Lenders we talk to know nothing about credit. It is a science and I know everything there is to know about it. We have established contacts in the mortgage industry and have closed on loans as low as 500! We also do a little real estate investing so if you have any ideas or possible business deals I am all ears!"
So it appears that Randy is a lender, a real estate agent and credit expert yet I can't find any ties to him and the license # he lists on his profile,1741885. I searched the National Mortgage Licensing System and found nothing there which is strange because every lender has to be in that system. I checked the California Bureau of Real Estate but that license # belongs to someone else. See the search results here: http://www2.dre.ca.gov/PublicASP/pplinfo.asp?start=1.
So this guy isn't a licensed lender or real estate agent so what is he licensed to do?
Now let's look at the website these people are spamming Trulia with:
You have to scroll all the way to the bottom of the page to see the disclosure below:
The Lenders Network LLC is a Marketing Lead Generator with its main office located at 14241 Dallas Parkway Suite 650, Dallas Texas 75241, Telephone Number 855-841-4663. Â© 2013 The Lenders Network, LLC. All Rights Reserved. This site is directed at, and made available to, persons in the continental U.S., Alaska and Hawaii only.
So it turns out this is just a Marketing Lead Generator or something like Lending Tree or Lower My Bills where they capture your information and sell it as a lead to lenders and or real estate agents.
This is a far cry from the representation they've presented here on Trulia.
Here's another one: http://www.trulia.com/profile/andreagomez/
Andrea Gomez, Agent, San Antonio, TX
I did a search on The Texas Real Estate Commission's website for Andrea Gomez and just as I thought, she's not listed. Check it for yourself.
She also doesn't show up on the Keller Williams website under their agent search. Check it by clicking the link below.
At least now you know what's really going on.
They would know some great lenders are who specialize in FHA financing for that area. We in Sacramento, CA wouldn't have that information. We can only speak on the national level for your question.
Good luck to you.