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Financing in 80911 : Real Estate Advice

  • All8
  • Local Info1
  • Home Buying2
  • Home Selling0
  • Market Conditions0

Activity 12
Tue Jan 15, 2013
Carl Henker answered:
Unfortunately the date of transfer back to the bank will be the start of the 3 year FHA time frame. Although your BK date is prior to that, the date on the transfer deed is what will be used for the deed in lieu time frame. The FHA guidelines allow a two year time frame for extenuating circumstances, but of yet I have not heard of anything shorter than the 3 years. ... more
0 votes 2 answers Share Flag
Fri Dec 14, 2012
Annette Martinez, MRP, Cmhs answered:
I can help, I work with a Hard Money Lender. Contact me for more details.
Annette Martinez
Broker Associate
RE/MAX Properties, Inc.
Dave Kaercher Team
Member- Colorado Springs Elite 25
1740 Chapel Hills Dr
Phone: (719) 649-5161
... more
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Thu Sep 27, 2012
Cathia Bell answered:
I have a great lender who may be able to help you

Give me a call - 719-291-4676
0 votes 10 answers Share Flag
Fri Feb 17, 2012
Number one issue is by far is credit. As you know we are going through a cycle where a huge percentage of our population has in some form or another been damaged or affected by the downturn in the economy or the housing market. But with a little work and patience most people seem to be able to put their credit issues behind them. I still can't figure out why more consumers don't take advantage of government insured loans like FHA, VA or USDA, the qualifying is so much easier than going FNMA or Freddie Mac.

As far as income is concerned, it doesn't seem to be an issue; people now realize that you've got to show income documentation in order to qualify for a home loan. With interest rates at an all time low and property values where they are, it's now more affordable than ever to buy a home. But there are those out there that still believe the market is still going down and that may be the case in some areas, but overall I've seen the market hold its own for the past several months.

The key in my opinion is for every R.E. Agent to have a seasoned Loan Officer to work with, someone who truly understands the meaning of not trying to put a square peg in a round hole. Since the demise of the Sub-Prime Lending Industry, most of the dirtballs are out of the business, meaning if you have managed to hang in there as a Loan Officer or Realtor during the past couple of years, you must be doing something right.

The main thing prospective home buyers need to understand is, buying a home takes a little planning ahead, if you know you want to pursue buying a home, speak with an experienced Loan Officer in advance. Take that first step; if you do you'll know up front if you have any credit issues what you have to do to rectify them. Having all your ducks in row is crucial. The greatest asset a home buyer can have is a good R.E. Agent and a great Lender. The two make an unbeatable team and the making for a smoother transaction.

Best of Luck!
... more
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Mon Sep 13, 2010
Mark Kinslow II answered:

I would suggest calling Matthew Hibler with CB Home Loans 3034091300 Or also Blase Deroco with Ideal Home Loans
3037833983 just tell them Mark Kinslow II sent you to them and they will take great care. I hope this helps! ... more
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Wed Oct 7, 2009
Carlos Lievano answered:
Hi Juanita,

Without knowning more about your specific situation it is difficult to give you an accurate answer. For instance there may be different scenarios based on - credit score, debt-to-income ratio, loan-to-value, ...etc.

If you'd like to call me and i'd be happy to discuss your options with you.

Best regards,

Carlos R. Lievano
Mortgage Loan Officer
Bank of America Home Loans
Office 773.819.0002
Fax 866.517.1206
... more
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Tue Sep 29, 2009
Barb Schiappacasse answered:
Hello again Michelle,
Please give me a call and we'll talk.
Thanks, Barb 930-1323
0 votes 6 answers Share Flag
Sat Feb 20, 2016
Barb Schiappacasse answered:
Hello Michelle, A low credit score can not only keep you from purchasing a home, it can also severely limit your rental possibilities. There are many ways to improve your scores, but they all take some time. I work with a number of lenders who have helped people in your situation get back on track. Please give me a call and we can talk more about your situation. Barb 930-1323 ... more
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Wed Mar 4, 2009
Case Schiller answered:
All the "Pro"'s here think now is a "GREAT TIME TO BUY!!!!"

I am sure one of them will find your investment. Just look at all their posts. They will put their money behind you!
0 votes 2 answers Share Flag
Thu Jul 3, 2008
Brian L. A. Wess answered:
Hi Jennifer :o)

Let me first say that you are not alone. I have seen many good people over the years who have gone through what you are going through and we are very lucky to live in a country that believes in giving people second chances if they earn it.

The short answer is that if you are responsible about rebuilding your credit status, you can eventually be qualified for home financing again.

Because each person and situation differ, credit and loan specialists disagree on exactly how long it takes to rebuild a good credit, but the soonest I have seen someone qualify for a home loan after a foreclosure was 18 months.

In your case the bankruptcy iin 2-07 also wiped out most if not all of your previous debt, but with all the bankruptcys and foreclosures in todays market the lending guidelines have become very tight, so what yo uhave done to rebuild your credit worthiness since the foreclosure and bankruptcy becomes very important.

I have several credit and loan specialists who I have worked with successfully over the years and trust who could advise you as to what you would need to do to repair your credit. Feel free to contact me through the website or my info below and I will be happy to refer you to them.

Brian L. A. Wess
... more
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Sun May 4, 2008
Brian Burke answered:
contact Jason Lyon at

He will be able to answer your questions and help you out.
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Thu Sep 27, 2012
Almost every loan program is designed for those allowances: no-low down payment and low- mod income. Here's a few: FHA, USDA, MyCommunity (Fannie Mae), Home Possible (Freddie Mac)...

I love Colorado Springs... I was stationed at Ft. Carson (inside Colorado Springs) for over 2 years. Your best option is to find a good mortgage broker that will take care of you. Use the link below which is to the National Association of Mortgage Brokers - this will show you a listing of Mortgage Brokers in Colorado Springs.
... more
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