Home Buying in Orland Park>Question Details

Gen, Home Owner in Orland Park, IL

Need recs for a good mortgage broker who can help me.

Asked by Gen, Orland Park, IL Tue Jan 21, 2014

I've been speaking to a mort broker since last year, and I'm not sure it's a good fit. We've had financial issues in the past. I don't want to go into detail about it, but our credit scores are in the 640-650's now. We had a second mortg loan that was charged off. That's another story in itself. I've been battling the institution for years about that and they finally sent a release of lien letter this Jan '14.

That being said, can I still qualify for a home mortgage? I'm looking in neighborhoods around the area like Mokena, Lockport, Homer. Anyone have any info if my situation will go through underwriting? TIA!

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Honestly, it sounds like you are in a tough spot. Credit score is fine, but the date of the release on your 2nd is going to determine when you can get a new loan. You are put into a "penalty box" when you go through a short sale, foreclosure or bankruptcy. The clock starts once the banks "clear" (not the technical term) the paperwork, not until then.

I have a broker that you can talk to that can point you in the right direction. Even if you are in a bad spot today, they can help give you a timeline so that you know what to shoot for. There is also a chance that you can look for owner finance properties, although those are few and far between too.

Just reach out.

Geoff Ommen
Broker Baird & Warner
1 vote Thank Flag Link Wed Jan 22, 2014
I just read the "Release of Lein" letter again. It states, "By releasing this lien on the property and not pursuing foreclosure *** is moving ahead with the principal forgiveness and extinguishment of this loan."

So it states my property was not foreclosed. Do I have a chance to qualify for a home loan?
Flag Wed Jan 22, 2014
Give Tom Rogus a try from BMO harris. He has been in the mortgage business for 30 years. Contact me at 708-829-8646 and I will give you his info. Very nice guy and is one of the best in the busines.

Brian Solner
Classic Realty
15000 s. Cicero ave
Oak Forest, ILL. 60452
cell- 708-829-8646
e-fax- 708-221-6759
1 vote Thank Flag Link Tue Jan 21, 2014
Hello there, I work with great lender officers. Please contact me to get you their info.
My Cell: 312-241-8888, email:joseph.arman@kw.com
1 vote Thank Flag Link Tue Jan 21, 2014
Gen: Without knowing more detail, it's hard to provide solid guidance here. That said, I'd love the opportunity to speak with you and help you towards rectifying any Credit issues that still remain .. and guide you towards successful buying as soon as possible.
I am a Mortgage Lender that lived in Mokena for over 25 years .. and now live in Lockport/Homer Glen. I've served Chicagoland Mortgage Borrowers for over 36 years. Please contact me at your convenience so we can talk and get started. My contact info, etc. can be found on my website at: http://www.genemundt.com.
I look forward to speaking soon,
0 votes Thank Flag Link Mon Jan 27, 2014
Hi, I live in Homer Glen and work with lenders that are invested in the surrounding communities here. I would love to work with you and see what you can do. I am also partnered with a company that does lease with an option to buy that may fit your needs. If you are looking for an expert in the local area, look no further.

Contact me anytime 815-791-3150 or Aj-Nichols@kw.com
0 votes Thank Flag Link Fri Jan 24, 2014
Hi Gen,

You need a lender that can work through the exact details of this. As mentioned, this will partly have to do with the dates of record for certain actions on the 2nd mortgage. It can be tricky to navigate and get a clear understanding f the situation and you want someone that can not only do that, but can then impart to you exactly where you stand and how to get where you want to be. (if you aren't there already)

I'm available to help you at your convenience if you wish.

I can do a full underwriting approval ahead of time if need be and I also offer credit score improvement programs for free while we work on your mortgage. Everyone likes to raise their score!

If you like my answer, consider clicking on a “Thumbs Up” or “Best Answer”


Robert L. Hanson
Gladewater National Bank
First Time Homebuyer Specialist

Direct: 240-752-7549 Cell: 301-651-7822
Email: robertlh66@verizon.net
NMLS# 695929

Rate quote or live chat with me at the link below:

0 votes Thank Flag Link Wed Jan 22, 2014
I work in your area, and have numerous great lenders that I work with, all with great programs to meet any needs. Please give me a call to discuss how we can get you approved. I look forward to hearing from you.
0 votes Thank Flag Link Wed Jan 22, 2014
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