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mcanada
37 Posts |
 Posted - 08/27/2008 : 3:21:11 PM
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Have a client with a 660 mid score..full doc…had the loan approved via Fannie Mae but apparently they just changed their BK rules…he filed a Chapter 13 in 8/04 and was discharged on 5/07…new guideline for Fannie is 4 years on any BK? It’s a no cash out refi…loan amount of $138K…value on appraisal is $215K….so LTV is 64 and the DTI is 37….has been on his job for 34 years….anything you can do...full doc!!!
HELP! |
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rdcurry
406 Posts |
Posted - 08/27/2008 : 3:31:38 PM
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| Any extenuating circumstances that caused the BK ?, divorce, medical ? |
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FundStar14
755 Posts |
Posted - 08/27/2008 : 5:08:41 PM
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| Can you take it FHA? I know some will say it must be 24 months discharged but a good friend of mine who works for another company just had a purchase in July that had a BK discharged in 1/07 fund and it was a FHA Jumbo. |
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