Mortgage Grapevine

Any lenders doing HOPE for Homeowners in Michigan?

Have a customer who is about 30-40k upside down who has pretty decent credit who would be FHA eligible if it wasn't for his equity situation. His lender has already told him they would be willing to take a short payoff if he was able to find a lender who could refy him. Give me a call at 517-323-8214 or joel@idealmortgage.org if you can help or know of someone who can...thanks!
by jdoc November 4, 2009 1:43 PM

I live in MI and trust me.....there's no hope for homeowners here....
by Donktard Borker November 4, 2009 1:54 PM

I work for a company that all of our loans have debt forgiveness and 50% of them close through refinances. Are you a broker or a lender? I have 5 10 lenders in the country that can do this FHA, but you may have to give the deal up. All but one are lenders . Brokers have a hard time with debt forgiveness even on FHA. Even though they have Hope for Homeowners back out wiht no lenders originating it yet though. HUD is actually supposed to put out a mortgagee letter on debbt forgiveness and this will hopefully open this up with lenders.
by jwenk November 13, 2009 2:57 PM

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