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Hey guys and Gals- As many of you know, I'm a Mortgage Broker. I wanted to give everyone a heads up as to what's going on right now just because the changes are major.
The banks are shutting down programs for mid 600 credit score programs with high loan to values, meaning if your house is worth 150,000 and you owe 140,000 This started last Thurs. There are still some good first time homebuyer programs with zero down but the guidelines are are getting really tight because Wall Street doesn't want the loan.
If you have and arm loan, you should really have myself or someone you trust in the mortgage industry look at your situation. There are too many homes being foreclosed on, and I hate to hear about anyone in that position. I'm finding houses are appraising for less than they did 7yrs ago, but I have a great appraiser that can find every nickel in your home. This isn't supposed to be an advertisement, I've just had and great time on this site you guys are hilarious, and don't want to see anyone go through this aweful experience :thumb:
Call me or PM me if you have any questions.
Chris
248-568-0322
The banks are shutting down programs for mid 600 credit score programs with high loan to values, meaning if your house is worth 150,000 and you owe 140,000 This started last Thurs. There are still some good first time homebuyer programs with zero down but the guidelines are are getting really tight because Wall Street doesn't want the loan.
If you have and arm loan, you should really have myself or someone you trust in the mortgage industry look at your situation. There are too many homes being foreclosed on, and I hate to hear about anyone in that position. I'm finding houses are appraising for less than they did 7yrs ago, but I have a great appraiser that can find every nickel in your home. This isn't supposed to be an advertisement, I've just had and great time on this site you guys are hilarious, and don't want to see anyone go through this aweful experience :thumb:
Call me or PM me if you have any questions.
Chris
248-568-0322