I have some people that are interested in buying a property I have on contract, but they are having trouble getting bank financing because of some difficulties they have had with a property of theres that has gone into foreclose a couple years ago. Not that they couldnt afford the home they needed to move to a new area but owed more on their house than it was worth, so they worked with their lender to shortsale the property so technically its not in foreclosure. Anyways I dont know if that matters or not but it does seem to be effecting them for getting a home loan. Does anyone know of lenders that would be willing to work with people that have had to shortsale their home or have a foreclosure on record? like maybe 20% down payment or something. I would greatly appreciate any input thanks!
Well, how about that. People take out a mortgage and refuse to pay it. Then the banks don’t want to give them another mortgage. I wonder why that happens.
I suggest that you start looking for another buyer.