My dissolution will be final soon and I have not worked for ten years. I will be getting 8000 a month from

Asked by Marymomof3, Canal Fulton, OH Wed Apr 22, 2009

my ex for the next 6 years. How long will I have to wait to be approved for a loan? I really don't want to wait six months which is what I am hearing.

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, ,
Thu Apr 23, 2009
BEST ANSWER
Hello Home Buyer!
I just spoke with one of my FHA lenders, and the Senior Underwriter will approve the loan after you have received only 1 month of your dissolution pay! My company is located in Cleveland; however, my family is from North Lawrence (just the other side of Route 21) if you would like to meet in person after setting everything up for the purchase - just let me know if I can be any help - Have a great day!

Best regards,

Joshua Pick
http://www.CREFCO.com
Sr. Mortgage Consultant
216-236-7266 phone
0 votes
, ,
Thu Apr 23, 2009
Hi DP2,
Yes, I only do residential financing, and I am licensed in the entire state of Ohio, as well as Virginia, Florida, and Missouri. You can email me at jpick@crefco.com if there is anything I can help you with - thanks!

Joshua Pick
http://www.CREFCO.com
Sr. Mortgage Consultant
216-236-7266
0 votes
Dp2, , Virginia
Thu Apr 23, 2009
John, do you only handle loans for residential properties?

Also, it appears that you cover Cuyahoga and Stark counties. May I assume that you'll also work with properties in Medina, Lake, and Geauga counties too?
0 votes
Ann Anderson, , Lake Las Vegas, Henderson, NV
Wed Apr 22, 2009
Why not start looking now? It will take you a couple of months to find a home and you can negotiation a closing date that is a few months out and by that time your dissolution would be final.

The only problem is your deal would be contingent on it, just make sure to let everyone know that up front and there will be now problems. Beside, it is a buyer's market,so sellers are more willing to work with you than a few years ago.

Good luck
0 votes
Dp2, , Virginia
Wed Apr 22, 2009
You'll probably have to wait that 6 months if you intend to obtain conventional financing; however, if you're open to purchasing a home using seller financing, then you might be able to make a purchase sooner.
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