Foreclosure Bailout Help Needed - Mortgage Forums for Mortgage Brokers

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		Mortgage Forums for Mortgage Brokers > Mortgage Business > Loan Scenarios and General Mortgage Talk
Foreclosure Bailout Help Needed

#1 (permalink)

09-07-2006, 08:50 AM

Paulyedward Paulyedward is offline

Newbie at a desk in the hall

Join Date: Feb 2006

Location: Cottage Grove, MN

Posts: 3

Foreclosure Bailout Help Needed

I have very little hope on this, but I'll ask anyway. I have a close family friend that I've been trying to help for some time, to no avail. Here in MN we have a 6 month redemption period on all foreclosed properties. My client is currently about 2 months into that 6 month period. I just pulled their credit and breadwinner is at 534, co-corrower is at 588. Not much equity, probably looking at 90-93 LTV. Their combined income should qualify around 50% dti's. Anyone have any suggestions at all??? I don't want them to lose their house, but it's looking more and more probable. Thanks.

Paul Tacheny
Branch Manager
Five Star Mortgage,Inc
651-209-9540 (Direct)
651-334-2524 (Mobile)
651-209-9599 (Fax)

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