Hard to place borrower.. Help

danieldawson101 · Joined: 05 Aug 2005 Posts: 1

Hard to place mortgage. First time buyer 100% financing,only two ficos reporting 672 & 608, 2 trade lines 1@16 months 1@4 months., we need stated program. I need help ASAP.
Daniel
dan@1stomega.com
by dawson101 August 4, 2005

sal · Joined: 05 Aug 2005 Posts: 1 Location: Phoenix

Hard to place, yes, impossible, no. I have programs for stated income programs down to 580. The credit, the 100% requirement, the stated program, and the addition of the "firsttimer" is going to put the interest rate to an elevated level. But, I will see what I can draw up. I do business in:

ALABAMA
CONNECTICUT
ALASKA
MONTANA
ARIZONA
CALIFORNIA
COLORADO
WYOMING

If you're customer falls under this umbrella give me a call.

Sal 1-866-785-5900 x.1010

chow · Posted: Fri Aug 05, 2005 9:50 pm Post subject:

I'm just gonna shut up.
:?

Let me understand this from a really Blonde Stand Point.

Guys-
(other Moderators-this exchange is "Priceless"")

Let this stand as a bad example of ad's that even rolled a "Real Blonde," off the chair, on the floor.

I admit: I was Born at Night. It was 8:30PM .That night was Thanksgiving Evening, 40 something years ago....

So far, I can't figure out where I want to color my hair next.

earlybr · Joined: 08 Aug 2005 Posts: 6 Location: TN, All States

I can lend in all states but Alabama and Alaska. I am not a broker, I work in retail. If I repulled the credit and all 3 scores were there and the middle was 660, I could do it for this scenario. Let me know.

Brian in Tennessee

Haplo · Joined: 20 Jan 2005 Posts: 2406 Location: Springfield, IL

I'm so glad that my retail competition doesn't know how to read a simple scenario :P First he can't tell a no-doc loan from a bank statements loan, now he's saying 'hey, just in case you screw it up i got yer back!'

I can't wait to see what the 3rd post is..

earlybr · Joined: 08 Aug 2005 Posts: 6 Location: TN, All States

I can tell the difference between a No-doc loan and a Bank Statement loan. I have dealt with several people that say the customer needs to go No-doc and through some questioning, we found out the borrower has deposit amounts large enough to qualify. Also, the person asked for help and I told them how I could help. Seems that is what a lot of people do on here when someone asks for help.

chow · Posted: Wed Aug 10, 2005 3:09 pm Post subject:

This is hovering on Hard Money, and you need to let them (the readers) know that. DO NOT LEAD them into anything that is going to be a bait and switch. I work hard money loans. You can promise the world-but upfront, you have to be honest, because this is not an "Agency loan."

My concern in this whole thread is that we-as a community- Identify to the borrower and reader, that we have options. Just explain it to them a bit more. Open up a discussion on it.

I could wander this whole board and 15 others, saying-"I can do that!"

But, all I ask is that you are honest with the contacts, and educate the readers at the same time.

Is that a Fair Request? :D We are here for Education first, and Leads when they come to us. We like interaction, Honesty, and some good honest interaction and ribbing.

Peace be with you, I must work on a 40k (In my pocket) closing. See you all Friday nite!