Comments on: Looking for a wholesale mortgage lender, 85% ltv, 669 fico, jumbo non conforming 980k loan amount, in LA, CA?

By: thechase23

thechase23 — Sat, 06 Mar 2010 09:10:59 +0000

New Program here in Sacramento, we do loans 85%LTV and our lenders are the best.

It is possible if you know what you are doing. Email me.

By: hajira a

hajira a — Sat, 06 Mar 2010 08:53:59 +0000

visit http://realstate-california.blogspot.com/ may add up sme idea
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http://realstate-california.blogspot.com/

By: Big daddy

Big daddy — Sat, 06 Mar 2010 08:32:59 +0000

I hate to say it but I think your stuck. it’s not the ltv or fico that’s hurting you, it’s the loan amount, the highest fha will go there is 714k or something like that. Do you have fha access out there? Talk to some of your ae’s if you havn’t already, but this is a tough one, sorry I couldnt help more
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mortgage broke

By: Jennifer S

Jennifer S — Sat, 06 Mar 2010 08:19:59 +0000

Yes, I think you are gonna need 20% down + you should check on the appraisal…they might not lend as much as you need against the house. CA real estate is really suffering. So, if she needs $980K to pay off her current mortgage but the house is currently worth only $700K then the lender will only lend 80%*700K.

It’s a horrible situation. Sorry, so many people are in this situation in CA.

Can I suggest she call and work with her current lender? I know a lady here (in Southern Ca) that was able to get her ARM turned into a 30 year fixed at…6.25% by working with her lender and telling them she wasn’t going to be able to make the payments.

That’s the only thing she can do, really if she wants to keep the home.

Good luck, great of you to try and help her.

p.s. I just read your Resolved Question about USD Law. I completed their paralegal certificate program last year. I would highly recommend that before you commit to law school. Both UOP and USD Law are very expensive…not a great financial choice in today’s economy. I would suggest applying to a less expensive 4 year school (like a Cal State school) Not the best education but it will get the job done on a budget and it’s much more respected than UOP and National.

Around here, employers don’t give a lot of value to UOP and National. That’s coming from more than one guidance counselor. Why pay a ton of $ if nobody respects the degree?

Also, you should consider going thru the paralegal program at USD first. That way you can work at a law firm and gain experience if you decide to go to law school. The credits don’t count toward your law degree but the experience is invaluable if you want to make it your career.

p.s. don’t give a thought to J.B.- take a look at the kind of questions he’s been asking. What a lowlife!
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By: americanfreeman

americanfreeman — Sat, 06 Mar 2010 07:51:59 +0000

no way …

credit poor

85% LTV will not fly anymore

for that loan most will want 20% down and 750 credit

at 669 you can guarantee late and missed payments by end of year one.
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By: JB

JB — Sat, 06 Mar 2010 07:44:59 +0000

With a 669? What are you smoking?

Seriously, anyone who knows anything has heard all about BofA and CMC…..and that much of the stroy is yet to be told… And your out there trying to get a jumbo for a schlep with a 669…..un-effin-believable!

It was greedy people like you that got us in this mess.
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