Help, I need a lender suggestion!

[domi0036]

I have a client with a 550 mid FICO and a discharged bankruptcy (ch. 7) that is a week old. This would all be cool with a few different investors, but they also have a 2X60 on their home equity line per their attorney's advice not to pay. I'm trying to do a 80%, full doc, cash out (although, the cash out would be used to consilidate a lien from the bankruptcy.)

This guy has great cash and employment history.

Anyone have any suggestions?

Thanks,

Ryan

[HisHouseMortgage]

try First Franklin and Peoples Choice

[darrensloans.com]

I second Peoples.

[Greg]

Aegis, Option One, New Century, Long Beach

Most the 1 day out of BK lenders would likely touch this deal.

[cropach]

I can do 80% w/ 550 & 2x60 but the rest of the deal is going to have to be pretty clean. Feel free to call.

Chris Ropach

[Refiwithrye]

Who tell's their clients not to pay their mortgage. That might be the worst advice ever.

[Greg]

Well when you file BK then the payments you make after filing are basically throwing money in the trash and burning it.

Unless you cancel it.

Ryan, did they re-affirm on the house? If so they may have missunderstood the attorney. Typically they advise not to pay the bills they are discharging because of my firs statement.

If they did not and they let the home discharge through chpt 7 then a foreclosure will exist and kill your deal until 3 years seasoning. Maybe someone allows less than 3 yrs. I just have never came accross it.

Does anyone know if a lender allows forex <3yrs?

Let us know Ryan.

[abadkins]

I can do a loan with a foreclosure a year old depending on their 12 month credit history and mid score.
Andrea Adkins

[Houtan]

Hi There
I can do this loan.
I am an Account Executive for American Guardian Home Loans.

Please Contact me
Houtan@amguardian.com
Cell: 818 996 8686
Dir: 877 899 5803