Now, buyers have a “second chance” program designed for borrowers who previously owned and have less-than-perfect credit. This exciting program provides a path to homeownership to those who are well-qualified from an income, down payment, and credit standpoint but may have credit history concerns due to a one-time short sale, foreclosure, deed-in-lieu or bankruptcy.
Program highlights include:
Short sale, deed-in-lieu, foreclosure allowed — one-day seasoning
Bankruptcy acceptable, two years after discharge
Primary residence, purchase or rate/term refinance
Second homes, units and investment property are not permitted
20% down payment required for loan amounts to $1.5 million on owner-occupied, single-family residences in CA*
Loan amounts from $300,000 to $4 million
I won't turn a potential client away. There are ways to overcome hardship and own again!
Author:Chip Franks Phone: 254-291-1337 Dated: October 6th 2016 Views: 449 About Chip: The Supreme Commander of The Real Estate MarketPlace and A Good Guy, In General!
Ron "Chip" Frank...
My last post covered the benefits of hiring a realtor. By now, yo
"I was referred by a friend because Real Estate Market Place is so extremely friendly and helpful. We visited a large number of homes before I found one ready to purchase. TREMP was great as I work weird hours they were able to work around my schedule and ensure that I saw all the homes I wanted to see. I was sent a frequent email so I was able to watch for new homes and any changes that came up on others. They met my needs 100%!