Tag Archives: Lender

Qualifying for leasing a home after a foreclosure?

Posted on October 30, 2011 by admin| 3 Comments

Our house was foreclosed upon this month after late payments due to an extended illness. We have a mutual agreement with our lender, who purchased the note, to move by mid-August. The realtor who will handle the sale of our home said that he would provide a good reference letter to help us find a home to lease.

We are in Texas. Will we qualify for leasing a home within our means with this foreclosure on our record? On the common Texas Leaser’s application, I see questions asking about if there was a foreclosure or eviction.

Each of us has steady employment (9 and 10 years as a teacher and hospital worker, respectively) and great references. Our monthly gross income is 5200. with only one loan payment of 350./mo.

The houses we are looking at have management companies handling the application. Is there anything we can do to increase our chances of qualifying to rent? I thought about writing a letter and including a pic. Or, is there not a chance because of the foreclosure?

Thanks

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Posted in Homes For Sale

Tagged agreement, Foreclosure, Home, house, illness, late payments, Lender, mid, month, mutual agreement, note, Qualifying, realtor, reference letter

Question to those who are experts on home loans?

Posted on October 17, 2011 by admin| 4 Comments

I co-own a home with a family member. It is owned free and clear, no debt is on it. We are considering consolidating all of our outstanding debt and doing home improvements on the property. What is the best option from a mortgage lender? Variable? Fixed? I have an appointment with a lender coming up soon and would like to be prepared. I have done some research but would like advice from someone in the field. Thank you very much.

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Posted in Home Improvement

Tagged appointment, debt, family, family member, Home, home improvements, home loans, Lender, member, mortgage, mortgage lender, option, Property, question, Variable

forclosure-did everythiing the lender has asked for-what is the chance they will work with us?

Posted on October 2, 2011 by admin| 3 Comments

The sale date is on june 8th. I have been working for the past 3 wks with my lender to work something out on a daily basis sometimes I’ve called 4-6 times a day. they said I have a surpluse of income but not enough for a repayment plan. I am very worried because the sale date is so close & I have provided them every piece of info they have asked for & have been truthful with them. they have yet to say yes or no. I have 3 kids & no extra money. I have tried to get the home refinanced even tried getting my vechile refinced( 2 months til it’s paid off). My migrains have hit an all time high & the stress is driving me crazy.After 3 wks of calling and calling the person who is suppose to be handling my case she finally talked to me.i have done everything they have asked. ihave showed them proof that we can afford the payments now and even extra documents they didn’t assk for(extra paycheck stubs). my question, how likely is it that they are going to work with us.it is so frustrating!

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Posted in Homes For Sale

Tagged basis, chance, daily basis, date, day, Income, june, Lender, repayment plan, sale, something, surpluse, wks