Facing foreclosure? Loans are available if you know how and where to look and what to do.

I read about it and hear about it every day…the mortgage crisis.

Would be borrowers can no longer get loans, we hear,  unless their credit is very very good, they say. Because of this absence 0f availability of banks willing to lend, limiting your  opportunity to refinance into anther lender out of your foreclosing bank, foreclosures are skyrocketing beyond any previous historical levels and borrowers have no way to remortgage and start again… NOT SO… if you know were to go and what to do.

Here is the simple truth. There are plenty of lenders remaining in the market willing to lend to not so perfect borrowers.

Yes the terms and conditions and requirements are a little more demanding and some products that used to be offered are no longer available, but over all, in many situations, a loan can be arranged that traditional lenders are currently saying NO.

Here is the difference,  traditional established banks are shutting down their lending business for low score applicants. Private bankers, non brick and mortar lenders, are however actively lending. A workout and turnaround typically require capital to fuel the transition, and these loans can be acquired. Even if they are deemed very expensive, high points and higher interest, in consideration of the deep discounts workouts provide, and the opportunity to preserve equity and your home, the increased interest is a reasonable trade.

Locate a mortgage broker who specializes in such loans and get one NOW. Do your workouts and survive the current financial turmoil, do not become a victim, it is not necessary.

Better yet, as I have spoken about so frequently in other entry’s in this blog, repair your credit first and then apply for a loan from the non traditional sources we spoke about above and reap huge benefits.  Frequently, foreclosure is unnecessary. In fact foreclosure threats can be converted to other opportunities to gain ground with short sales, sales for less then the mortgage amount and principle discounted refinancing, also for less then the mortgage amount.

Call me for references to exceptional mortgage brokers and credit repair specialists who do the job very well and are experienced and dependable. It is a specialty, traditional brokers may be telling you it cannot be done… it can. Call for help 413-549-2966.