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Mattrock99
106 Posts |
 Posted - 06/11/2008 : 2:40:18 PM
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Stats:
SFR
Oregon
55% LTV/CLTV
782 midscore
Recieves $7500 per month in alimony (which ends in short of 3 years)
Fixed or ARM products accepted by borrower
Purchase price $300k to $400k
DTI 27%
If you have anything or know of anyone I would certainly appreciate hearing from you.
Cheers, |
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dwmordue
390 Posts |
Posted - 06/11/2008 : 3:33:48 PM
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| Is alimony the only source of income? |
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AGreene00
2734 Posts |
Posted - 06/11/2008 : 4:12:11 PM
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| What's she planning on doing for money when the alimony dries up shortly? ...or should I not ask? ;) |
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www.johnreiher.c
464 Posts |
Posted - 06/11/2008 : 4:14:37 PM
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lol, what makes you think the blood sucker is an x-wife? lol.
just kidding. |
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dkendall1979
8732 Posts |
Posted - 06/11/2008 : 4:27:54 PM
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Re-marry?
quote:
Originally posted by AGreene00
What's she planning on doing for money when the alimony dries up shortly? ...or should I not ask? ;)
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Mattrock99
106 Posts |
Posted - 06/12/2008 : 11:22:30 AM
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Yes my blood sucking client is planning to re-marry after the alimony dries up . . .
Ok not really. She is going to back to work. She was making a little over $5k a month when she was working previously.
Oh and the alimony dries up in about 2 years 8 months. She got him pretty good huh?
Cheers, |
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www.johnreiher.c
464 Posts |
Posted - 06/12/2008 : 1:04:52 PM
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| Its 3 years with us. sorry. |
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dwmordue
390 Posts |
Posted - 06/12/2008 : 1:04:55 PM
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Matt,
How long has she been out of work?
Salaried, or Self-Employed?
Why was she out of work?
When is she going back to work?
Is is the same job, same line of work?
I've done FHA loans where the borrower had an offer letter for a new job, but had not actually started it yet. I'm talking a reasonable time frame, like within 30 days, not 6 months from now or anything like that.
If she's got a salaried job lined up, then this just seems like you've got a deal that will materialize within a matter of time.
Sounds like you're just getting her through the pre-approval stage right now since you posted a purchase price of $300-$400k, and not a specific amount? |
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Mattrock99
106 Posts |
Posted - 06/12/2008 : 1:09:20 PM
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She has been out of work for a few years.
Salaried.
Started being a full time mom. Then got divorced.
She will go back to work once her alimony gets closure to ending. (2 years 8 months)
Same line of work, different company most likely.
She is looking to get pre-approved now before submitting the offer for the purchase yes.
Cheers, |
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dwmordue
390 Posts |
Posted - 06/12/2008 : 1:55:22 PM
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Waiting for her alimony to cease before going back to work doesn't make it look like you'll be doing a loan for her in the near future.
Tell her to go back to work, even in the short term. 30 days back on a job similar to what she was doing before should be enough to qualify her. |
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Mattrock99
106 Posts |
Posted - 06/12/2008 : 2:12:15 PM
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Actually I have found a few different folks that can do this.
If anyone else is in this situation please check out the comments associated with my initial posting and they can help you as well for a very reasonable rate.
Cheers, |
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