Investor Needed for Refinace

Financing, Hard Money Lenders, Private Money
1

I own a home in PA. Value is approx $140k w/mortgage of $105k.
1st mortgage 12% balance $84k
2nd mortgage 14% balance $21k

I have an ARM which keeps going up and is out of control. My scores were from 547-580 last week when i pulled them. this is primarly from when i fell behind this past year from repairs etc, went into preforeclosure and my tax refund saved me.

I am current on all bills (credit cards, auto loan, mortgages, etc). I paid off my credit cards this past month down to below $1k

Due to my low score I am gettings hi rates to the point not even worth financing.

My following debts are very simple:
Both mortgages listed above.
Auto loan HSBC balance $21k payment $598/mth
Credit card debt is under $1k.
Common living expenses (gas, cell, food, etc)

I have been at my job since 4/1999 W2 showing $70k.

I am looking for a private investor to take on a $105k morgage at a reasonable rate. Giving me enough time to raise my score and re-finance with a bank soon. I am looking for no out of pocket expenses so it may be another $2k to cover appraisal etc which i am willing to pay for at my cost.

I am not looking for long term.

I know some other options (Rapid re-score, borrowing from grandma) I am just seeeing my options with this.

Any idea, help, suggestions, offers would be appreciated.

2

With those scores you should still be able to get a very decent rate, short term. we can discuss all the options.

keith

3

Recently we had some guy who posted that he had a FICO score of around 750 but was considering allowing his home to go into foreclosure in order to learn the short sale business. We all questioned his sanity, but if you can find his posts you may want to look him up and see if you can pay him to use his credit to help you refi.

4

Maybe your broker was trying to get a good sized yield spread and not giving you anything close to the par rate…That could be the reson why you have been getting such high rates back. I usually get very good pricing due to the fact that we are a directl lender instead of a 3rd party broker.