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Financing in 60629 : Real Estate Advice

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  • Home Buying13
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Activity 2
Fri Apr 12, 2013
JIM Michaels answered:
What Is Mortgage Recasting And Why Do It? | Bankrate.com
www.bankrate.com/.../what-is-mortgage-recasting-and-why...

by Michele Lerner - More by Michele Lerner
A loan recast results in a smaller balance and lower monthly payment. ... Upon request to recast a loan, we would confirm that the investor of the loan allows ... ... more
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Wed Sep 19, 2007
Ntfeldman answered:
Pat,

All loans are a shared transaction between the lenders willing to lend (or originate) funds and the borrowers willing to accept the money at the agreed upon fees/rates.

I'm not sure what your real question is. "The" indicates a singular source and there is no "single" source for sub-prime loans. "Is" is a present tense verb meaning "now doing" But I'm not sure because of a disconnect in your vernacular if you are trying to find a lender that currently services sub-prime borrowers for properties in the Chicago area ? Or are you trying to determine which lenders might have been previously responsible for making loans to sub-prime borrowers?

Please give us more if so we can help you.
... more
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