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Author Topic: Help me!!!!!!!  (Read 4740 times)

Offline glssweety

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Help me!!!!!!!
« on: August 12, 2005, 12:33:08 pm »
I own a home free and clear, the problem is that it needs serious rehab but no bank will loan me a dime. My debt to income ratio needs rehab too! I need a lender who will lend to me regardless of the home's condition and my debt situation. If I was able to get the home repaired I could sell it and clear most of my debt. If there's a lender in this world that would help me in a situation like this where would I find one?
 
Thanks
glssweety
In Illinois

Offline cayenne

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Re:Help me!!!!!!!
« Reply #1 on: August 13, 2005, 02:32:34 pm »
What part of Illinois do you live in?

Offline Chris2006

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Re:Help me!!!!!!!
« Reply #2 on: August 14, 2005, 02:32:26 pm »
Hello, Have you considered a Hard Money Lender (HML) as a last resort?
Chris

Offline glssweety

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Re:Help me!!!!!!!
« Reply #3 on: August 15, 2005, 09:51:56 am »
cayenne

I live in Alton. Its about 10 minutes from St. Louis, MO.

Offline Mdhaas

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Re:Help me!!!!!!!
« Reply #4 on: August 17, 2005, 01:27:27 pm »
Have you tried going to Wells Fargo or American General Finance.

These companies lend on personal property not so much home value.  The rates are through the roof, but, it may help you get through.
If at first you don't succeed.....................skydiving is not for you

Offline glssweety

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Re:Help me!!!!!!!
« Reply #5 on: August 17, 2005, 02:49:57 pm »
Thanks Mark, I'll look into those companies ASAP.

Offline Yuriy

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Re:Help me!!!!!!!
« Reply #6 on: August 17, 2005, 07:52:07 pm »
You can get up to 70% of the future house value after rehab
and yes, it is based on house, not you
it isnt cheapest, but if you know what you doing it is a gold mine.
call 916 648 2680 Gary Dahlbeck at CommunityCommerce Bank.

Offline glssweety

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Re:Help me!!!!!!!
« Reply #7 on: August 18, 2005, 08:16:01 am »
Thanks Yuriy, I'll call them too. What area code is 916. Doesn't seem like an illinois code. I'll try it though. thanks again!

glssweety

Offline Yuriy

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Re:Help me!!!!!!!
« Reply #8 on: August 19, 2005, 08:13:03 pm »
yes, it is not Illinois,
it is Sacramento, CA
I just have purchased a house in Florida with an agent in Virginia and loan oficer in Las Vegas
without meeting or seeing any of them.  Who cares where is the bank if they give you a right loan, right?
Let me know if it was any help for you.
Good Luck!

Offline glssweety

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Re:Help me!!!!!!!
« Reply #9 on: August 22, 2005, 12:40:26 pm »
Yuriy,

So I just got off the phone with Gary and he said that he can't loan outside of the state. I still have a few other companies I can try before I go the hard money way.

  :-\ Thanks


Offline Mdhaas

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Re:Help me!!!!!!!
« Reply #10 on: August 23, 2005, 12:23:22 pm »
How goes the hunt? ???
If at first you don't succeed.....................skydiving is not for you

Offline glssweety

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Re:Help me!!!!!!!
« Reply #11 on: August 23, 2005, 03:49:10 pm »
Not very good so far. I called Wells Fargo all day long yesterday but I could never get anyone on the phone so I left a message and I haven't heard back yet. I did find an American General in my area so I'm looking there next.

 




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