 |
Re: The rules of the game have changed- So I have a question . .
Posted by Mary Supinger on July 26, 2008 at 16:54:08:
In Reply to: The rules of the game have changed- So I have a question . .
Posted by John on July 16, 2008 at 16:12:15:
BAD NEWS: If you let one house go to buy another, you would need to prove to the lender that you have a tenant under contract with evidence of a deposit and first month's rent being in your bank account. Unless you can prove that you have six months reserves for both houses, you won't be able to get a loan. Further, if you do find a lender to do the loan for you without the conditions I mentioned, then your having even asked this question will set you up for a fraud conviction.
GOOD NEWS: Call or contact me and let's talk about doing a loan modification for you. Then you could have some relief from the effects of the economy and still be doing everything right. Mary 858-577-2440 General Mortgage
Follow Ups:
Foreclosures
Pre-Foreclosures
Assistance
Resources
Investing