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Financing in 37211 : Real Estate Advice

  • All23
  • Local Info4
  • Home Buying2
  • Home Selling2
  • Market Conditions0

Activity 6
Wed Dec 28, 2016
Bradley Neumann answered:
Hi Codi. Are you still looking for a mortgage? If so, please give me a call. We can go over a few bits of information and see if you might qualify.
0 votes 1 answer Share Flag
Tue Jan 19, 2016
Samira2424 answered:
Improve your credit score with jewelry, they report to all 3 credit bureaus $99 to register everyone gets a $5000 credit limit. Buy something small and make monthly payments on time and watch your credit score increase. ... more
0 votes 5 answers Share Flag
Sat Mar 21, 2015
Thomas S Hall Jr. answered:
FNMA Guidelines
Bankruptcy Chp 13
• Two years must have elapsed since discharge date
• Four years must have elapsed since dismissal date

Deed in Lieu of

Two Years -Lesser of 80%
Four Years -Lesser of 90%
Seven Years- 95% LTV

Deed In Lieu of 3 years from the completion date
... more
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Wed Dec 11, 2013
Tony Grech answered:
Patricia did a good job of answering things, but I will add to this a little.

FHA recently released a provision called "back to work" that allows you to apply as soon as 1 year after the final action on your BK or foreclosure, whichever was later.

To qualify, the BK and surrender have to be a direct result of an event resulting in job loss or income loss of at least 20%. You need to be able to document this and you also need to document that before the job loss your credit was in good shape,

Otherwise, you're looking at the 3 year waiting period.

Hope this helps!
... more
0 votes 2 answers Share Flag
Fri Nov 30, 2012
ashleeranderson answered:
In so far as adding value it is really all about how much it feels like living space. Even if it has A/C it can still feel like a basement which does not add as much perceived value as 2 level home. ... more
0 votes 12 answers Share Flag
Thu Aug 16, 2012
Josh Malone answered:
It depends on the type of loan. Right now most loans including USDA, Conventional, VA, and many FHA programs require a 640 and although the guideline may allow less very few lenders will actually lend with less. There is an FHA program that allows and lends at 620 and another that will go as low as a 550 however other requirements must be met. Basically a real hardship must be explained that caused a borrows score to be damaged such as a death, serious illness, job loss, ect. What I would recommend is that you talk to a professional that can provide practical guidance to quickly improve your score. Many times it is not as difficult as you might think. See ... more
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