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?
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Tags: Apartment, Foreclosure, Getting A Loan
February 25th, 2009 at 10:11 am
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? hope dear wiht my all heart
February 27th, 2009 at 5:33 pm
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She will most likely be able to get a loan. But may not be a good one.
March 2nd, 2009 at 5:16 pm
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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.
March 4th, 2009 at 10:59 am
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Hi tina,
She can. Her interest rate would not be the prettiest.
~Trey