Please help me find a product

Mortgage and Lending with Peoples Home Equity Chattanooga, TN

Hello fellow mortgage brokers! As you all know, it is just tough to get a loan done these days. I have a deal that is 365K, appraised value of 450K..... 608 credit score. I am needing a seller held second to 100%. Is there ANYBODY out there that does these anymore? I know, a lot of dishonest people have made it so hard to get deals done, so I have not been able to find anyone that offers this program. Please let me know if you know of any lenders that I can check with.

Also, another one that I have is a lease purchase where they have only been in the home for 6 months. Any suggestions on that one? (I know, most require 12 months cancelled checks, but it doesn't hurt to ask)

Thanks for any input!

Have a wonderful weekend.

Comments (6)

John Popp
Charlotte, NC
Try CitiMortgage...they still allow seller seconds to 100% on their expanded products
Jul 20, 2007 01:57 PM
Tchaka Owen
Galleria International Realty - Hollywood, FL

If you fail to find a lender that allows a seller-held second, why not have your seller purchase at 100% CLTV?  Given the equity in place, MI can be removed before too long.


Jul 20, 2007 09:49 PM
Christina Lane
Peoples Home Equity Chattanooga, TN - Chattanooga, TN
Thanks, I will try citi. They will not qualify on the flex 100... I have tried running it. Thanks for the advise!
Jul 21, 2007 06:50 AM
Keith Goeringer
Wells Fargo Home Mortgage - Orlando, FL



I am a  AE for Saxon Mortgage, the subprime division of Morgan Stanley, I will allow 90% with a seller second to 100% and 6% concessions.  They just can't be a first time home buyer.  Call me and we can discuss it




Keith Goeringer

Saxon Mortgage, Inc.

  A Morgan Stanley Company

Senior Account Executive

p. 407.375.4121

f.  877.241.8540



Jul 21, 2007 09:18 PM
Dominick Gaccino
Dominick gaccino - Peekskill, NY

i know many lenders that will allow the 2nd


try nat city or Mortgage IT

Jul 22, 2007 08:57 AM
Christina Lane
Peoples Home Equity Chattanooga, TN - Chattanooga, TN
Just wanted to post a comment, did finally close this loan a couple of months ago, thru Equifirst...... Thanks for all the comments
Nov 15, 2007 11:52 AM