Need a loan willing to pay 12%
Question: Had sickness in family and am now behind on bills to include mortgage. Credit is bad because of lateness. I take home $4200.00 a month and my wife takes home $1000.00 a month, both of which can be verified.
We will be willing to sign a contract to pay the following;
$80,000 30 yr loan 12% interest
Monthly payment of; $822.89 With all bills included, i.e. electric, cable, food, gas, etc., our total monthly bill will be $4089.21 with a net monthly income of $5200.00 to allow us $1110.79 left over a month.
If you are a kind hearted soul and can help us please get in touch with me. Thank You very much
Answer: Have you contacted any mortgage brokers? With a brokered loan, you could probably get these terms even with bad credit. The only hitch is that the property would have to be worth $110,000 or so for you to have the needed 30% equity to be in the low doc loan category.
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