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dmj30064
190 Posts |
 Posted - 04/29/2008 : 8:24:15 PM
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Okay seasoning might not be an issue after all, the seller Fifth Third Mortgage Company is being represented by Acme Asset Management under auction terms. The property was foreclosed on 12/2007. Who has the player? Seller is willing to help borrower if needed, max LTV needed(90% would be great). Please advise, I really need some good looks & NOT FHA.
Appraised Value:117000
Loan amount: 105000
LTV: 90
CLTV: 90
Occupancy: Owner Occupied
Loan Purpose: PURCHASE
Loan Type: Conventional/NON-CONVENTIONAL
State: GA
Doc Type: FULL DOC
Middle Score: 591
Debt Ratio: 34
Seasoning: RENT FREE, LIVED WITH PARENTS
Mortgage Lates: None
Foreclosure: None
Bankruptcy: None
Tradelines: 9> 2YRS OLD
If you can do this loan or know of any lenders that would do this, please contact me ASAP by office at 678-395-8403. |
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dmj30064
190 Posts |
Posted - 05/08/2008 : 3:55:42 PM
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| Bump. |
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Reegor
435 Posts |
Posted - 05/08/2008 : 3:57:33 PM
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e-mailed you again.
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lukyk22
1668 Posts |
Posted - 05/08/2008 : 3:57:36 PM
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| why is the credit so bad? you're missing something here .. |
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FLhardmoney
225 Posts |
Posted - 05/08/2008 : 4:33:42 PM
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| Some quick credit repair and I can probably get that done. Email me deeles07@yahoo.com if you want to discuss. |
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rob24
111 Posts |
Posted - 05/08/2008 : 11:01:08 PM
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| why can't this go FHA? |
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slants
3736 Posts |
Posted - 05/09/2008 : 07:07:41 AM
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| Is the 20% down payment a gift or buyer's own funds? If gift funds, how much is buyer's own money? |
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dmj30064
190 Posts |
Posted - 05/09/2008 : 4:11:23 PM
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Seller has owned less than 3 months.
quote:
Originally posted by rob24
why can't this go FHA?
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dmj30064
190 Posts |
Posted - 05/09/2008 : 4:12:22 PM
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buyer can put down 10%, seller is willing to assist.
quote:
Originally posted by slants
Is the 20% down payment a gift or buyer's own funds? If gift funds, how much is buyer's own money?
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Banker0679
7673 Posts |
Posted - 05/12/2008 : 3:43:59 PM
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how long did the other owner own it before he sold it to the current seller?
was it a foreclosed property? |
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Banker0679
7673 Posts |
Posted - 05/12/2008 : 3:44:35 PM
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| how much did the seller buy it for? |
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dmj30064
190 Posts |
Posted - 05/12/2008 : 4:00:47 PM
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Okay seasoning might not be an issue after all, the seller Fifth Third Mortgage Company is being represented by Acme Asset Management under auction terms. The property was foreclosed on 12/2007. Who has the player??
quote:
Originally posted by dmj30064
I am working on a purchase loan & the seller has owned the house for 2 months & is now selling the home(repairs are completed). Seller is willing to help borrower, max LTV needed(90% would be great). Please advise, I really need some good looks. Scenario is below:
Appraised Value:130000
Loan amount: 104000
LTV: 80
CLTV: 80
Occupancy: Owner Occupied
Loan Purpose: NO SEASONING PURCHASE
Loan Type: Conventional/NON-CONVENTIONAL
State: GA
Doc Type: FULL DOC
Middle Score: 591
Debt Ratio: 34
Seasoning: RENT FREE, LIVED WITH PARENTS
Mortgage Lates: None
Foreclosure: None
Bankruptcy: None
Tradelines: 9> 2YRS OLD
If you can do this loan or know of any lenders that would do this, please contact me ASAP by office at 678-395-8403.
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dmj30064
190 Posts |
Posted - 05/12/2008 : 4:03:02 PM
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Yes, foreclosed on 12/2007. I guess Fifth Third has sopme joint venture going with Acme Asset Management to sell the home under auction terms(highest bidder wins with 30 days to close deal).
quote:
Originally posted by Banker0679
how long did the other owner own it before he sold it to the current seller?
was it a foreclosed property?
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lisannem@cox.net
4 Posts |
Posted - 05/12/2008 : 10:17:01 PM
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| Where is the property located? If it is outside of a major metropolitan area try USDA Rural Development. No FICO limitations, 100% financing, no MI and most importantly no seller seasoning restrictions. I'm in Phoenix and there are areas in the suburbs that are elegible. |
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