We have been financing real estate since 1991. We look forward to financing your dreams and goals.
A bankruptcy attorney had recommended that Chip call us, to see if we would issue him a loan to bring his mortgage current and to give him extra cash-out to pay future mortgage payments and to consolidate some debts... More...
We reviewed his situation, he needed a Stated Income loan, his credit scores were 444, 469, 491, he did have equity for us to issue him a $100,000 Stop Foreclosure Loan, his loan to value would be 66%, he had about 14 collections and charge-offs on his credit, and he felt there was no hope, after being declined by 3 other mortgage companies.
We issued him a $100,000 2nd mortgage with a payment of $1000 per month, this loan was a 20 year loan, with only a 6 month prepayment penalty. Our goal was to issue him this Stop Foreclosure Loan, then after 6-9 months, after his credit would get cleaned up by CreditCleaners.Net then we would refinance this loan into a lower payment loan once his credit scores were improved to the 580 -620 range. He was happy we were able to help him avoid Foreclosure.