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Looking for a subprime lender

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need a lender Guest	Posted: Mon May 10, 2010 6:53 pm    Post subject: Looking for a subprime lender Like 0 Dislike 0 I am looking for a subprime lender that would loan with a 5 yr old judgement and a few collections. Borrower makes 95K/yr and is in need of a mortgage, they are currently renting a home that has been sold and would now like to own. Borrower is in NYS. Any ideas? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon May 10, 2010 9:00 pm    Post subject: Like 0 Dislike 0 Hi Guest! Welcome to forums! After the real estate crisis, there is hardly any sub-prime lender left in the mortgage market. With judgment and collection mentioned, it will not be possible for the borrower to get a mortgage. Feel free to ask if you've further queries. Sussane
riseabove Joined: 09 Nov 2009 Posts: 277 11.01 Dollars($)	Posted: Tue May 11, 2010 3:07 pm    Post subject: Like 0 Dislike 0 Thats a significant income, does your borrower have any savings? If they have a large enough deposit they could possibly get a hard money loan. Hard Money lenders don't usually lend more than about 70% of the value of a home, but with housing prices at very low levels this could still be an option if they have a decent deposit. _________________ Instant mortgage quotes available online Low rate mortgage refinance Latest Florida mortgage rates

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