There are always one or two clients that tell you that everything is okay with their credit. You pull their credit and it's a mess. You either can't get a loan for them or their interest rate is so high. The high interest rate doesn't provide an affordable payment.
Maybe your client is in foreclosure and they did or didn't tell you that at the beginning. You can't refinance the loan because the
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Notice of Default on their record hinders them to a 70% LTV ratio.
No matter how good of a mortgage broker you are or how many years of doing it, you can't make the impossible loan. You may have called all around and checked with your specialty, high risk banks. It's still an impossible loan.
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If the homeowner just wants to sell we can buy the property quickly without any commission fees paid by the seller.
Call Encore Real Estate at 503-998-5844.