Looking for no seasoning lenders in Illinois(Chicago area). Fully funded purchase.

idpsllc

Hello,
Looking for no seasoning lenders in Illinois(Chicago area). Fully funded purchase....I am looking to connect with all lenders who have no seasoning requirements on short sale/REO properties. I am buying at wholesale prices(all cash) and have end buyers lined up.
Please advise and thanks in advance.
Jeff

adonis · Posted: Mon Feb 23, 2009 12:00 am Post subject:

Welcome idpsllc,

I don't think you will find lenders who have no seasoning requirements. Keeping in mind the present market situation, lenders are not giving such loans.

jgiuliano · Posted: Fri Mar 20, 2009 12:29 pm Post subject: No seasoningf Lenders

With todays lender enviornment, there is no easy way to refi a purchase.
The borrower needs to qualify. I would be happy to take a look at the borrowers and offer you the best service available.

Posted: Fri Mar 20, 2009 1:50 pm Post subject:

joe, i appreciate your situation as a new member of our community, and i also welcome you as an additional member from the land of steady habits.

one of the precepts of the community and the forums is no advertising. your reply is construed as an ad, inasmuch as you've solicited business. please don't - we have others who are blatantly in violation and it really is contrary to what the forums are set up for.

thanks. we look forward to your expertise.

gmakerley · Posted: Fri Mar 20, 2009 1:51 pm Post subject:

guess who! yes that was me on this post:

joe, i appreciate your situation as a new member of our community, and i also welcome you as an additional member from the land of steady habits.

one of the precepts of the community and the forums is no advertising. your reply is construed as an ad, inasmuch as you've solicited business. please don't - we have others who are blatantly in violation and it really is contrary to what the forums are set up for.

thanks. we look forward to your expertise.

eric1 · Posted: Sat Mar 21, 2009 5:05 pm Post subject:

Wow a little too much "joe" up there...

I think your best bet in this instance MAY BE a hard money lender. Your interest rate will be a lot higher until you can get past the seasoning requirements that other lenders have.

Guest

I have someone with 590 credit score, inherited home totally paid for. He has only been on tilt 6 months. Can;t find a lender help

gmakerley · Posted: Mon Mar 23, 2009 1:16 pm Post subject:

"on tilt"??? does that mean he is leaning over for the past 6 months?

the only thing that i know of out there for a score less than 620 is usda; or worse, hard-money lenders.

Guest

Hi Jeff,

I myself am in the same boat you are in...I have found some local banks that do not require seasoning.....you can email me at "homebuyer17@gmail.com" and I'll forward you some info....I know how frustrating it can be to locate these portfolio lenders.

[Email address deactivated as per forum rules]

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