Dave Mason's Discussions

There is as is and as disclosed they are very different. In my opinion there should only be as disclosed when it comes to real estate.

I've seen worse....

Some of the Fannie Flex programs can go as low as 575 fico for 100%. If you have any questions please let me know.

You can still do a Fannie Mae My Community loan to 100%. The loan limit is only $417,000. If you have any questions you can email me at dmmason@att.net.

I doubt that will work. That loan will not be able to be able to be sold on the secondary market. You may want to look for a private equity lender. If you have any other questions you can reach me directly at dmmason@att.net.

If you like stress go for it. I would stick with someone you can visit with near where you live. You wouldn't give your money to a stock broker you have never met, why would you get a mortgage with someone you don't know. It's nuts....

I think you may want to look at taking some responsibility. I don't know all the circumstances but life is a two way street.

I don't know that waiting is going to make that much difference. With the state of this economy who knows what is going to happen.

You don't have to pay off your collections if you want to buy a home. Fannie Mae has no restrictions on collections. There are guidelines to the amount of loan that you will be able to get. The maximum loan amount that you can get to 100% Loan to Value is $417,000. I have also been seeing loans being approved with fico scores below 620. This is even with the collection accounts. Your judgements and liens will have to be paid off however. With the current credit crunch it is hard to say how long these loans will be around. If you are thinking of buying, I wouldn't wait much longer. Guidelines for mortgage loans have been changing daily.

The bank most likely will go off of the contract price. At least this has been my experience. If you have any other questions please let me know.