Sometimes you should just buy boxes.

As an Arizona Mortgage Broker I have available a wide array of funding sources.  We are able to fund from Wholesale Lenders, Banks and Private Individuals with deep pockets.  We use all sources to find funds for a borrower.  My goal is to always find a source of funding for everyone.

We work with borrowers from those ‘A paper people’, the ones we all love to deal with, to those who have a toxic credit score.  The A paper people are the ones with the 800+ credit score and a 30% down payment and high paying jobs.  The toxic borrowers are the ones with a credit score down in the low 400’s and numerous red flags on their credit report.

What I’ve learned over the years as an Arizona Mortgage Broker  that there is always a source of funds for the borrower, it just comes down to Mortgage to Value, and ability to pay.

However their comes a time when no matter how hard you work and look you are not going to find a lender that will lend.  For example, one recent borrower need a $11,000 Mortgage for their home.  It turns out that the $11,000 was to reinstate the current 1^st position Mortgage that was currently in default with a foreclosure date set.  Additionally the borrower owed $145,000 on a home that was comping out at $135,000. And on top of that he said his credit score was ‘not so good’.   I gave him three options.

1. Try to negotiate a Mortgage modification.  (He said he did, but they said no).
2. Go back to the lender get on your knees and ask for a forbearance and reinstate the Mortgage.
3. List the home as a short sale.
4. Sell something and get caught up.

1. Or buy boxes – you are going be  moving.

Arizona Hard Money