| Author |
Previous Topic | Next Topic |
|
AlexLocklear85
148 Posts |
 Posted - 05/20/2008 : 11:55:05 AM
|
| I have a client looking to Refi his home with a credit of : 480, 603, and 525; I don't think Wells will touch it. Anyone know of anybody that might? Nothing derogatory in the past 12 months. |
|
Carpet Muncher
1385 Posts |
Posted - 05/20/2008 : 11:56:31 AM
|
quote:
Originally posted by AlexLocklear85
I have a client looking to Refi his home with a credit of : 480, 603, and 525; I don't think Wells will touch it. Anyone know of anybody that might? Nothing derogatory in the past 12 months.
What is pulling down the scores? |
|
|
AlexLocklear85
148 Posts |
Posted - 05/20/2008 : 12:06:46 PM
|
| Looks like tons of charge-offs.. |
|
|
American Credit
598 Posts |
Posted - 05/20/2008 : 2:22:05 PM
|
quote:
Originally posted by AlexLocklear85
Looks like tons of charge-offs..
Paid or unpaid? |
|
|
AlexLocklear85
148 Posts |
Posted - 05/20/2008 : 2:26:48 PM
|
| Unpaid |
|
|
lobb
199 Posts |
Posted - 05/20/2008 : 2:46:55 PM
|
| try perfect fha or Ideal mortgage bankers. do you have cancelled checks for rent ox30 last 12 months? Are they going down in house pmt? Do they have their 3% down? |
|
|
ss5547
250 Posts |
Posted - 05/20/2008 : 2:49:10 PM
|
| I think even Ideal has a 530 minimum. Haven't sent them a deal lately, so I'm not 100% sure. I know for certain that Security Atlantic has a 530 minimum. |
|
|
jvanpetten
2667 Posts |
Posted - 05/20/2008 : 3:41:03 PM
|
It is a refi, see the original post.
quote:
Originally posted by lobb
try perfect fha or Ideal mortgage bankers. do you have cancelled checks for rent ox30 last 12 months? Are they going down in house pmt? Do they have their 3% down?
|
|
|
MoneyLenderP
1686 Posts |
Posted - 05/20/2008 : 3:42:41 PM
|
| go through credit reapir |
|
|
RESCUEHOMELOANS
4 Posts |
Posted - 05/20/2008 : 3:48:26 PM
|
I believe we can help you. You can reach me at 425.743.7973, Mike
quote:
Originally posted by AlexLocklear85
I have a client looking to Refi his home with a credit of : 480, 603, and 525; I don't think Wells will touch it. Anyone know of anybody that might? Nothing derogatory in the past 12 months.
|
|
|
AlexLocklear85
148 Posts |
Posted - 05/20/2008 : 5:27:37 PM
|
| Is the 530 minimum the average of the 3 scores? (480, 603, and 525, average=536) or does it mean out of the 3 scores, the lowest has to be 530 or higher? |
|
|
jvanpetten
2667 Posts |
Posted - 05/20/2008 : 5:28:56 PM
|
| Usually it is the mid score has to be 530 |
|
|
American Credit
598 Posts |
Posted - 05/21/2008 : 07:25:41 AM
|
| If your client has some money available, we can probably help settle some of the debts and then follow up with getting them removed or updated. This should give you a large boost in score. Let me know if you're interested. |
|
|
808
2889 Posts |
Posted - 05/21/2008 : 07:39:59 AM
|
| Perfect FHA is gonna be your best bet. I'm guessing that this borrower doesn't have money for credit repair if he has a ton of charge offs. Problem w Perfect is that your not gonna make hardly anything on the back and you'll probably be at 7.000%-7.250%. |
|
|
American Credit
598 Posts |
Posted - 05/21/2008 : 07:45:52 AM
|
| Our credit repair only costs $225 so I doubt that would be much of an issue. However, I could see problems with them coming up with money to have us settle their debt. |
|
|
808
2889 Posts |
Posted - 05/21/2008 : 07:52:07 AM
|
quote:
Originally posted by American Credit Repair
Our credit repair only costs $225 so I doubt that would be much of an issue. However, I could see problems with them coming up with money to have us settle their debt.
that's what I meant |
|
|
American Credit
598 Posts |
Posted - 05/21/2008 : 08:13:43 AM
|
| I agree, but it all depends on the size of the charge offs. I can't tell you how many times I've seen 15 charge offs on someone's report that total only a couple hundred dollars. |
|
|
teri1
2 Posts |
Posted - 05/21/2008 : 08:18:48 AM
|
quote:
Originally posted by ss5547
I think even Ideal has a 530 minimum. Haven't sent them a deal lately, so I'm not 100% sure. I know for certain that Security Atlantic has a 530 minimum.
|
|
|
teri1
2 Posts |
Posted - 05/21/2008 : 08:20:21 AM
|
quote:
Originally posted by ss5547
I think even Ideal has a 530 minimum. Haven't sent them a deal lately, so I'm not 100% sure. I know for certain that Security Atlantic has a 530 minimum.
Can anyone please provide the numbers for security atlantic and Ideal?? |
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
