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Seeking Portfolio Lender for single family NJ home mortgage

Hi,

My wife and I are seeking a portfolio lender in the area that could help us with our situation. We had a bankruptcy discharge in Mar 2010.  Coming March 2012 it will be two years.

I had a business that went under at the tailend of 2009.  I had 4 four credit lines open that I couldn't continue paying as a result. 

My wife and I have had 20yrs of great 800+ credit score, but after chap7 it dropped down to 620s, but now it is approaching 700s or greater.

We have never been forclosed or included any of our previous homes in our bankruptcy. In fact we have never even made 1 late payment for the time we had our homes, C/C Students loans, Car payments EVER.  

Home ownership was the period of 1996 thru 2005 when we sold.  Currently we rent.

We are quickly repairing our credit during this time frame by opening several secured credit cards and financing several vehicles. One for $37000 and the other for $15000.  Last check in August 2011 our credit scores were both 694 and 690.

By the time March 2011 comes along we should be 700+.

We are looking to buy a home in the range $585-605,000
Down Payment of 20% or $115,000-$120K
Salaries for the wife and I = $190,000-$205,000.
Total investments = $210,000 saved.

It's possible that we would qualify for FHA, but we are trying to avoid it,
because of the costly monthly MIP.

Thank You in advanced!!!!
  • November 26 2011 - Manalapan
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Answers (2)

Hi,

I have worked with buyers in your situation, I recommend you call Residential Home Funding - 732-747-1676, ask for Michele or Lambros- they have done wonders with my clients.  If you would like to chat, please let me know.

Regards,

Steve

  • November 26 2011
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Profile picture for chax
Hi Steve, Please let me know a number to call. You could email it to me. Thkxx
  • November 26 2011
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