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igh70
Dud?


Joined: 27 Aug 2010
Posts: 1

Great Investment
PostPosted: Fri Aug 27, 2010 4:08 am Reply with quoteBack to top

I have come across the home of lifetime and need some advise on financing. The home is a 4 possible 5 bedroom 2 bath 3 car garage full basement 40x60 barn on 5 acres total sqft 2848 above ground. It was last financed at $175,000 has been foreclosed and is on the market for $112,000. The broker I spoke with said he is 95% sure the bank will go down to $85,000 or $90,000. So there is plenty of room for instant equity here. The problem is my credit has gone bad do to the layoff from a job of 10 years. I am back to work now but am dealing with the bad credit. Is there anyone out there that would even look at us to finance?
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I_Like_2Mortgage
Dyn-o-mite!


Joined: 25 Feb 2009
Posts: 276
Location: Tenney, MN

Re: Great Investment
PostPosted: Fri Sep 24, 2010 2:46 pm Reply with quoteBack to top

Yes. Your file can go FHA with 3.5% down payment. What is your gross income? Are you salary by the hour or by the week or by the month? What is the lump sum total of all your monthly debt? Have you seen your credit score lately?

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