Ross Morgan Mortgage Banker Philaldelphia PA Loan Officer with Carnegie Mortgage Direct Lender in all 50 states nationwide located in Berwyn PA 19312, 1-800-641-4833 x304, rmorgan@carnegiemtg.com , www.rossmorgan.valuedlender.com Home loans, purchase, refinance, FHA Conventional, VA, ARM, residential financing, Real Estate financing with lowest low rate and closing costs.
I closed a VA loan refinance mortgage this week. My client had been told by 4 unnamed lenders (including big names!) that they could not help them.
The challenges for this loan were twofold, first due a job loss caused by the extraordinary economic times of the last few years they had to give up their previous home to a deed in lieu, which is considered a foreclosure. Here were the circumstances, they moved to take advantage of the available jobs in their fields, which happended to be quite far away. They puchased a new home while their previous home was on the market for sale. The home didn’t sell for over a year and they ran out of money in their retirement funds to continue to carry the mortgages on both homes, so they were forced to let it go. Foreclosures require a time period which is dependent on guidelines and surrounding circumstances before you will be able to qualify for a new loan. But, in this case it was due to a suitable extenuating circumstance (job loss) and we were able to move forward by providing detailed letters of explanation showing that the cause was beyhond the control of the borrowers.
Ross Morgan Mortgage Banker Philaldelphia PA Loan Officer with Carnegie Mortgage Direct Lender in all 50 states nationwide located in Berwyn PA 19312, 1-800-641-4833 x304, rmorgan@carnegiemtg.com ,
www.rossmorgan.valuedlender.com Home loans, purchase, refinance, FHA Conventional, VA, ARM, residential financing, Real Estate financing with lowest low rate and closing costs.
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