2,684,109
Waiting for definitive answers from Caroline Gerardo and/or Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi and/or John Meussner and/or Khash Saghafi and/or @Harjeet Bhatti
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Sandy Padula & Norm Pa...
, CA
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Debe Maxwell, CRS
Charlotte, NC
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Pete Xavier
Pacific Palisades, CA
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Nina Hollander, Broker
Charlotte, NC
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John Meussner
Fair Oaks, CA
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Diana Dahlberg
Pleasant Prairie, WI
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Richard Weeks
Dallas, TX
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Ron and Alexandra Seigel
Carpinteria, CA
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Christine Wade
Derby, VT
1,076,551
Thank you for the mentions everyone! I mean you Fred Griffin and Barbara Todaro !!
There ARE a lot of options for post-bankruptcy, however the FICO and LTV combination are going to prove to be a problem. Ch7 VS 13 is also problem.
Larger down payment (20-25%) would open up some doors, but at that price range it's a huge $$ amount between 5% and 25% down so doubtful they can do it.
Also, Ch13 is viewed a little differently as there's still a payment history to consider to the trustee, so with some programs "time served" in the repayment period of a Ch13 can help a borrower qualify.
Unfortunately though, I don't know of any options that could help the exact scenario you're looking at.
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Sandy Padula & Norm Pa...
, CA
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Debe Maxwell, CRS
Charlotte, NC
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Candice A. Donofrio
Fort Mohave, AZ
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Fred Griffin Florida R...
Tallahassee, FL
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Pete Xavier
Pacific Palisades, CA
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Christine Wade
Derby, VT
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Nina Hollander, Broker
Charlotte, NC
1,052,211
TJ's got his guy Jason too! I can't tag on my phone. But six months after a BK? Chapter 13? 95% LTV sounds light too, for someone with that fresh BK. I'm going to watch this thread.
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Debe Maxwell, CRS
Charlotte, NC
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Pete Xavier
Pacific Palisades, CA
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Nina Hollander, Broker
Charlotte, NC
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John Meussner
Fair Oaks, CA
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Diana Dahlberg
Pleasant Prairie, WI
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Lyn Sims
Schaumburg, IL
417,221
Can do the day after the BK discharged Can't do as VA now, they can wait the 24 months after discharge and refinance into a VA Real Estate Virtual Assistant & Agent Owner-occupied single family they have to qualify with IRS taxes for the higher rate. The score is acceptable if that is the middle lowest score. Backing into your answer- property taxes $625+ fire hazard $100 + pandi $4132 - can't fit a HOA fee in there bottom ratio is 36% and 36/43 is max for this program. I assume they have no bills as the BK wiped them out - would need to see taxes and the full litany of paperwork
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
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Fred Griffin Florida R...
Tallahassee, FL
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Nina Hollander, Broker
Charlotte, NC
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Christine Wade
Derby, VT
1,435,300
I would not waste my time, and if you want to run it by someone I think the resources here in the rain have already been mentioned!
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
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Pete Xavier
Pacific Palisades, CA
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Nina Hollander, Broker
Charlotte, NC
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John Meussner
Fair Oaks, CA
5,583,278
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi , John Meussner and Khash Saghafi ....
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
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Fred Griffin Florida R...
Tallahassee, FL
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Nina Hollander, Broker
Charlotte, NC
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John Meussner
Fair Oaks, CA
1,844,301
Why would you waste your time? Fresh BK's can be for medical only. I'd start looking for better buyers.
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
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Nina Hollander, Broker
Charlotte, NC
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Pete Xavier
Pacific Palisades, CA
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Diana Dahlberg
Pleasant Prairie, WI
4,883,248
Do what Fred Griffin suggested.
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Nina Hollander, Broker
Charlotte, NC
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John Meussner
Fair Oaks, CA
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Diana Dahlberg
Pleasant Prairie, WI
1,725,996
Reads like you may need a hard money lender
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
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Diana Dahlberg
Pleasant Prairie, WI
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Candice A. Donofrio
Fort Mohave, AZ
5,230,119
Calling Brotha Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi & Khash Saghafi!
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Gene Mundt, IL/WI Mort...
New Lenox, IL
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John Pusa
Glendale, CA
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Anthony Acosta - ALLAT...
Atlanta, GA
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Fred Griffin Florida R...
Tallahassee, FL
5,216,931
Waiting for some input from those mentioned in the post of Fred Griffin to learn more!
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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John Meussner
Fair Oaks, CA
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Diana Dahlberg
Pleasant Prairie, WI
5,772,575
Fred Griffin has picked great resources for you. A
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Fred Griffin Florida R...
Tallahassee, FL
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Nina Hollander, Broker
Charlotte, NC
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John Meussner
Fair Oaks, CA
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Diana Dahlberg
Pleasant Prairie, WI
1,291,481
Like John above, i don't believe there are many good options for this person. There's just not enough info provided here to make a definitive call, but some possibilities may exist depending on the Chapter filing. There are some lenders, myself not included, that will do a loan out of bankruptcy less than a year in a non-QM Loan at a higher rate, with higher down payment. This doesn't sound like a possibility for this person and I have no suggestions as to who might be of assistance. Best of luck though ...
Gene
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JoAnn Moore
Georgetown, DE
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Pete Xavier
Pacific Palisades, CA
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Debe Maxwell, CRS
Charlotte, NC
3,345,091
You have some good answers here. I'd be calling my lending partner.
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
1,153,794
No one I know would touch it nor would I lead the "client" in that direction. I'm not a lender although those numbers don't pass my scrutiny either.
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
208,185
Is it a Chapter 7 or Chapter 13??
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
679,404
Above my pay-grade ... watching and listening!
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
1,712,676
I am not a lender.
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Nina Hollander, Broker
Charlotte, NC
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Diana Dahlberg
Pleasant Prairie, WI
3,988,007
It looks a little grim but nothing that a little time and more savings won't retify.
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JoAnn Moore
Georgetown, DE
2,220,654
You have many great answers here.
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Anthony Acosta - ALLAT...
Atlanta, GA
4,160,899
Real Estate Virtual Assistant & Agent many great responses.
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Debe Maxwell, CRS
Charlotte, NC
1,502,998
Sounds like you already have the local lender experts on the case!
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Debe Maxwell, CRS
Charlotte, NC
1,543,833
5,104,931
What Fred Griffin said. Sounds a bit like a stretch to me at that income.
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Fred Griffin Florida R...
Tallahassee, FL
7,836,431
Connect this prospect with your trusted local mortgage loan officer.
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Debe Maxwell, CRS
Charlotte, NC
763,883
2,071,025
1,045,440
Not a lender but it seems like that might be quite tough, the combo of a bankruptcy, pretty low credit score and only 5% down. You may need to bite the bullit and look at hard money lenders or find a source for more down and or get those credit scores up. The only other thing I can think of that might help is a very well qualified cosigner. Good luck Real Estate Virtual Assistant & Agent
3,986,258
1,311,397
472,114
4,800,082
3,071,489
4,319,419
Real Estate Virtual Assistant & Agent - I am sure someone will be there to help.
Good luck.
6,393,609
4,434,127