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Financing in 01109 : Real Estate Advice

  • All18
  • Local Info1
  • Home Buying9
  • Home Selling1
  • Market Conditions0

Activity 3
Mon Feb 10, 2014
Terry McCarley answered:
Yes, this is true. Wells Fargo is the only lender I have worked with that will loan less than 50k.
0 votes 9 answers Share Flag
Fri Jan 14, 2011
Matt answered:
#1. Short sale it if you owe more than it's worth.

#2. Wrong Springfield section. This is Mass. You want Ohio.
0 votes 4 answers Share Flag
Fri Sep 10, 2010
Louis Wolfson answered:
Unfortunately you like me are at their mercy. We pay our mortgage and bills. The only time your present bank will help you is if you don't pay them or give them all the paper work they will ask you for to show them that you are broke, which will take months.

Best bet is to refi with them or another lender, but most likely your upside down and your income may not meet their lending guidelines.

There is no fairness to those of us that pay and are border line for the new tougher lending requirements. Isn't unbelievable that the banks will tell you when you go to reduce your payments that you don't qualify for the amount your looking for. Just keep paying with those higher rates. Sort of an oxymorron.
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