Mortgage Money for Lousy Credit


I

iNet

I suppose I could be more tasteful and say "for less than perfect credit",
but I'll be honest - the people we lend money to don't have the time to
dance around and be politically correct with wording.

If you have banged-up credit

Multiple late payments

Prior (or even currently in) Bankruptcy

Pending Sheriff sale

Poor credit but have an "opportunity of a lifetime" buy

We may be able to help.

We do the occasional "A" credit loan. Our rates are competitive in this
regard, but there are better places to go.

For the "B, C, D & F" grade loans, we excel where others fail. We work with
you, with what you do have, to get a mortgage for you. No income
documentation, creative down-payment scenarios, Liens, judgements, etc. We
have seen it all before, and have experience in working through whatever you
may have.

We offer a "sale / leaseback with option to buy" program that is second to
none - if you absolutely positively cannot get a mortgage, we will buy the
property from you, lease it back to you with an option to buy after 12-24
months. (This has been exceptionally useful in situations where a homeowner
has fallen far behind, a sheriff sale is in 3 days, and there is no other
way to save the home)

Never an application fee. No up-front fees. (Note - appraisal fee due and
payable to an appraiser of your choice prior to closing)

If you have questions or have any concerns at all, email me at

Sales at (SpamKiller)INet-Lender.com (Remove the SpamKiller and quotation
marks)

www.inet-lender.com
 
S

Slobby Don

iNet said:
If you have questions or have any concerns at all, email me at

Sales at (SpamKiller)INet-Lender.com (Remove the SpamKiller and
quotation marks)
A perfect example of the pot calling the kettle black! I'll remove some of
the hypocrisy:

(e-mail address removed)
 
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H

Howard Goldstein

We offer a "sale / leaseback with option to buy" program that is second to
: none - if you absolutely positively cannot get a mortgage, we will buy the
: property from you, lease it back to you with an option to buy after 12-24
: months. (This has been exceptionally useful in situations where a homeowner
: has fallen far behind, a sheriff sale is in 3 days, and there is no other
: way to save the home)

Intriguing. Could you supply a realistic example here on
alt.bankruptcy of how your services would be superior to a Chapter 13?

ISTM a court-enforced restructuring will almost always be superior to
a private arrangement, but I've been known to be wrong (sometimes)
(rarely? :)

TIA Howard
 
I

iNet

Howard Goldstein said:
We offer a "sale / leaseback with option to buy" program that is second
to
: none - if you absolutely positively cannot get a mortgage, we will buy
the
: property from you, lease it back to you with an option to buy after
12-24
: months. (This has been exceptionally useful in situations where a
homeowner
: has fallen far behind, a sheriff sale is in 3 days, and there is no
other
: way to save the home)

Intriguing. Could you supply a realistic example here on
alt.bankruptcy of how your services would be superior to a Chapter 13?

ISTM a court-enforced restructuring will almost always be superior to
a private arrangement, but I've been known to be wrong (sometimes)
(rarely? :)

TIA Howard

Excellent question - although I did not mean to imply that a sale / lease
with option to purchase is better or worse than a chapter 13. Sometimes
they don't equate/relate.

Did the above S/LWOTP for a woman in a home that had completed a Chapter 13
2 years prior & could not file a 13 again.

Did one a few months ago (with the approval of the Trustee) where the man
sold the home while in a 13 and then converted to a 7.

Just like everything else in the world, it is not black & white. If I feel
a 13 is the way to go for a client, I recommend it to them. Help them any
way I can. They eventually come back as clients, even years later. (been
doing this 15+ years)
 
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H

Howard Goldstein

Excellent question - although I did not mean to imply that a sale / lease
: with option to purchase is better or worse than a chapter 13. Sometimes
: they don't equate/relate.

It seemed an appropriate thing to mention in that you posted to
alt.bankruptcy.

:
: Did the above S/LWOTP for a woman in a home that had completed a Chapter 13
: 2 years prior & could not file a 13 again.

Couldn't file because she couldn't propose a confirmable plan?

:
: Did one a few months ago (with the approval of the Trustee) where the man
: sold the home while in a 13 and then converted to a 7.

Please elaborate on this because ISTM you're saying the man did the
sale/leaseback while in the 13, is that correct? If so I agree it
might be useful in an upsidedown situation and a big change in the
circumstances. (although I hate to see confirmed 13s go to 7s due to
all of the money that needlessly went to the unsecureds, sometimes it
can't be helped). On the other hand I don't see a lot of upsidedown
home situations in my neck of the woods where the land bubble's been
upping everyone's property value by a consistent 15-20% in each of
the last 5 years.
 

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