Can my friend get a mortgage loan?
tina m asked:
I have a friend who owned a home three years ago but sold it because she went into foreclosure. Before she went into foreclosure she filed for bankruptcy protection. After selling the home, she paid off the bankruptcy and rented an apartment. She is now in sales making a lot of money. She has enough money to put 20% down on a 600,000 home. Will she have a problem getting a loan?
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I have a friend who owned a home three years ago but sold it because she went into foreclosure. Before she went into foreclosure she filed for bankruptcy protection. After selling the home, she paid off the bankruptcy and rented an apartment. She is now in sales making a lot of money. She has enough money to put 20% down on a 600,000 home. Will she have a problem getting a loan?
May 31st, 2009 at 4:35 pm
ı hope dear wiht my all heart
June 3rd, 2009 at 11:32 am
She will most likely be able to get a loan. But may not be a good one.
June 4th, 2009 at 12:10 am
Your friend is going to pay a high interest rate, if she is approved. Many hard money lenders will do a 65% Loan to Value Mortgage irrespective of credit history.
June 6th, 2009 at 3:03 am
Hi tina,
She can. Her interest rate would not be the prettiest.
~Trey