chapter 13 buyout: 80% LTV

By admin | Published: January 10, 2011

Need lender for IL; owner occupied SFR.  BK. filed 01/01 with 0×30 with BK. payments and 0×30 on mortgage since BK.  Filed due to medical problems/loss of income for spouse as a result on medical complications from childbirth.  Strong employment history for both borrowers.  Any and all leads, including contact numbers.  Credit score for primary is below 500.  Need close ASAP; full doc submission.  If rate <11%, clients will save $500 per month with refi.

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One Comment

  1. Kelly
    Posted January 13, 2011 at 10:31 pm | Permalink

    Try Option One Mortgage if BK filed over 2 yrs ago and mortgage and trustee pmts have been made on time in the last 12 months evidenced by mortgage history from present mortgage company and pay history from trustee. This is a sub-prime product but it has a decent rate and you can close quickly. Consider a 2-yr fixed product if rate is a big issue and refi again for lower permanent rate in the future.