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How can I qualify for a second mortgage?

My current home is upside down. I would like to move. I have a good profession and am working, my husband is not. I don't want to put down a big down payment. What should I do? Thank you, Sandra Desvallons
email: gabou01@bellsouth.net
  • October 24 2011 - Cutler Bay
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Answers (3)

More information is needed to provide useful advice. A loan officer is the best person to advice you. You can start with your current motrgage lender. Best of luck.
  • October 25 2011
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Are you looking at moving in the same area or out of town? Is your current mortgage an FHA mortgage? If not than you can possibly use a FHA mortgage and purchase a home with as little as 3.5% down. 

Would you be buying up in value or down in value? Do you feel you can qualify with mortgage payments on new and old home and your existing debt?  
  • October 24 2011
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There are several questions to ask before I can answer you. Is your current home on your name? Is your future home going to be only on your name? Are you willing to do a short sale? Are you late on your mortgage payments? Since you left your email to contact you I assume a ton of realtors emailed you already. If you would like to have a detailed discussion of your situation, feel free to contact me directly. I'll share my knowledge from the experience. I do this everyday. I can't give you a legal advise though.
kennedyrealtor@gmail.com
  • October 24 2011
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