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Financing in Norwalk : Real Estate Advice

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Activity 2
Fri May 11, 2012
Michael Mullin answered:
Nessa, situations like yours are a relatively new phenomenon and your best answer is going to come from making a full loan application to a lender and having your situation validated by an Underwriter. I recommend that because on a forum like this you'll get everything from "no way" to "no problem."

The reality is that it will be an Underwriter who has to make a determination.

The problem is that in the past a loan modification was viewed as just about the same as a foreclosure or other serious derogatory credit issue. People didn't get loan modifications unless they were in trouble financially and lenders would typically require you to wait 24 months to re-establish good credit.

Your scenario obviously doesn't fall into that description and your file will need to be handled as an "exception." Pick a lender you are comfortable with, pay the $20 for a credit report, and go through the pre-approval process. Give it a shot and you may have success.

If you'd like help feel free to contact us via our profile.
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Fri Mar 20, 2015
Alex Montelongo Real Estate Group answered:
Were you referring to companies that handle cash for keys? I don't understand your question.

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE lic #01456982 ... more
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