Asked by Millie, Phoenix, AZ • Wed Dec 17, 2008
but now a lender told me that they will re-do my loan. He says all I need is a 450 credit score, they appraise the house, the loan will be at 90% of the house value and that's it. I can't ever get a second on it, if I sell it before 7 years, they get all the equity, if after 7 years it's 50/50 split on the equity.
I asked an acquaintance of mine, who is a lender with Nova and she says she hasn't heard of this kind of loan.
I need to know asap since the new sale date is scheduled for 12/22/08.
Can you help me?
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