I am looking for a lender who will loan 95% LTV for 6% or less with mid-high 500 FICOs. Purpose is to consolidate most debt. Can be full doc loan. I have 6.0% and 8.0% on an 80/20 conventional, obtained 4 years ago. Perfect payment history, just alot of other bad stuff. Anyone have any recent success? Or am I screwed due to the recent credit crisis? I heard we are only 40% nationally of the way through the foreclosure mess. Seems like lenders would want to make some new money from people who have made mortgage payments on time, regardless of other activity.Thanks
Experian is. Equifax I don't have a clear read on yet since I'm currently in dispute. TU account for me is useless. I've had a split file with them for over 7 years. Spouse's are similar or slightly higher. Sounds like I need to get all scores above 580 first?
It would be easier if you could. Countrywide and Flagstar has some decent programs at those scores. Other variables play in as well.
Most in the same situation are renting until they build their credit back up and get past the situation, on a foreclosure you need to be at least 3 years past it with payments made to all tradelines of credit on time during those 3 yrs............it is obtaining a new " mortgage loan" that would be considered fraudulent. You can hire an attorney...National Association of Consumer Advocates ââ?¬â?? Consumer Protection Advocates and Attorneys or try a non profit to help with the modification like HOPE at 1-888-995-HOPE. If you are going through the modification process with Chase, they are modifying most of their loans as long as you can show that you can afford the modification going forward........
