anybody out there?

rljones1958 · Joined: 02 Jul 2008 Posts: 2 1.70 Dollars($)

What can a person do who bought a home from an investor at a high rate because of credit problems and wants to refi but still cannot because of low scores? is there such a place that will help so I wont go into foreclosure or be late with the payments. Not planning on being late but the payments are too high.

banker0679 · Posted: Thu Jul 03, 2008 5:55 pm Post subject:

Have you tried with FHA?
You can't have any credit lates in the last 12months, no BK 13 in the last 12months, and no BK 7 in the last 24months.

What are your scores, and what is the total amount of collections/judgements/liens/repo you have?

Guest 0.10 Dollars($)

I have no liens/judgments/repos. I do have 2 collections but all are getting paid off as we speak. No BK/at all. Divorce set me back but getting back on my feet. Scores are under 600.

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi rjones.

Welcome back.

I think you are a registered community member. So why are you posting as a Guest? Do you know you can earn here even when posting here or asking any question as a registered member Smile

BTW if you have got the mortgage loan over a year ago and you have not made any late payments in the last 12 months then you can get approved for a FHA loan. The DTI ration should not be more than 36 percent. So try to refinance the mortgage loan with FHA.

Hope this helps. Feel free to ask if you have further questions.

Best of luck,
Larry

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