How can I get a $3000 loan to make a late mortgage payment current, right before the refinancing?
by Mortgage Rates on Sunday, October 10th, 2010 | 4 Comments
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Find a Hard Money Lender to borrow it and place it as a payoff for the refi through the attorney, HURRY!
We use Citifinancial for this type of think a lot. Or once in a while a small local bank that will take various things as collateral. Good luck, that’s a tough one.
pay by his credit card or ask him to borrow money from his friends.
The correct answer would be to deny the loan. As a mortgage originator, why would you risk the chance of putting your borrower right back into the same situation? Why are they behind? When the underwriter get’s an updated VOM it will kill the deal anyways. It’s called a “bail-out” situation. Do you need the loan that bad? Enough to put your company and your borrower into such a risky position?