Sometimes you should just buy boxes.

Is investing in Trust Deeds in Arizona right for me?
March 20, 2014
Is investing in Trust Deeds in Arizona right for me?
March 20, 2014

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 1st 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.
Big Daddy Dennis Best West Direct Fulfillment ServiceArizona Hard Money
Arizona Mortgage Broker
Dennis Dahlberg
Level 4 Funding LLC
Tel:  (623) 582-4444 | Fax: (888) 279-6917
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 12
Phoenix AZ 85027

Comments are closed.