Good Day Andrea Bunker,
I'd be willing to take a look at each situation on a case by case basis.
Available Mon-Fri 11am to 5pm Est
If you are looking for funding for investment properties we lend primarily based on the asset. We have $2mm immediately available and will lend up to 80% of acquisition and 80% of the renovation. email OffMarketRealEstate@gmail.com or go to our website www.ProvidentMng.com
When a previously owned property was sold for less than what was owed (short sale), borrowers are considered eligible for an FHA insured mortgage if, as of the loan application date, all mortgage and installment debt payments were made within the month due for the twelve months preceding the short sale.
Borrowers that were in default at the time of the short sale (or pre-foreclosure sale) are not eligible for three years from the date of the sale.
Borrowers who sold their property under the FHA pre-foreclosure sale program are not eligible for three years from the date that FHA paid the claim associated with the pre-foreclosure sale.
Lenders may make exceptions for borrowers in default at the time of short sale if
• The default was due to circumstances beyond the borrower’s control (such as death of a primary wage earner, long term uninsured illness, etc.); and
• The credit report reflects satisfactory credit prior to the circumstances (beyond the borrower’s control) that caused the default.
Borrowers who pursued a short sale agreement on their principal residence to take advantage of declining market conditions and purchase a similar or superior property within a reasonable commuting distance are not eligible for a new FHA insured mortgage.
My name is Chuck Lanzrath
I am a Private Money lender.
Since we have been around for 35+ years, our execution is very efficient. Usually we can close a loan in a week. If need be, we can have the loan documents prepared in two days.
We service over 450 loans, close and fund all loans. Our firm can lend up to $3.0mm any one property; which will meet the majority of borrower's credit needs.
If there are loans that you are not able to fund, I would welcome the opportunity to look at those deals to see if we can fund them. It would be my pleasure to visit and discuss your needs.
Attached is our flyer that outlines the types of loans we make.
I look forward in building a relationship with you and your company.
E Mail: Clanzrath@pacificloanworks.com
I thought that there is no lending company that allowing it, cause when i bought my first home at http://www.arvoasunnot.fi/ i wanted to bought new one after i complete my short sales however i did not seen any lending company before.
Andrea, My name is Art and i want to ask if you have any clients who would like to buy a single family home in IL? If so, i might be able to assist you with them. My direct email address is firstname.lastname@example.org. Thanks