Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

Advice please

Posted on: 30th May, 2012 01:56 am
My mother is trying to buy her first home. She is a widow and is also on disability. I'm helping her to clean up her credit. She has 4 bad items on her credit, 3 of which are paid judgments that won't come off for another 5 years. I am helping her dispute the last item. Her monthly payments are around $220 whereas her balance is $5k. She had also filed bankruptcy a few years back. Now that she had applied for a loan, the problem is that she did not anticipate the closing costs being so much. She is trying to sell things to help. However, as the date approaches she is concerned she won't have the money needed. She will have to pay extra if she delays the closing. She is thinking she may need to get a loan for the remainder of the closing costs. What advice would you give to her?
hi samuel,

your mother is can apply for a second mortgage in order to pay her closing costs. thus, she won't have to sell off her items to pay the closing costs.

thanks,

jerry
Posted on: 30th May, 2012 03:23 am
Hi Samuel,

Your mother can check out if someone could gift her the down payment money. This will make things easier for her.

Thanks
Posted on: 30th May, 2012 09:06 pm
Page loaded in 0.075 seconds.