Re: Foreclosure question

Posted by Iowa Dude (12.217.190.71) on July 12, 2002 at 00:53:29:

In Reply to: Re: Foreclosure question posted by observer on July 11, 2002 at 23:33:39:

observer you can get a mortgage by simply signing your name if you a) have a "good" FICO score or b) have 20-25% down payment. Obviously a "Full documentation" loan will get you the best rate as the risk to the lender is the smallest. I couldn't qualify for my new house with 3 mortgages on my credit report so a no income/no asset loan was my only option. No ratios are calculated at all. I just come to the table with 10% down and a "good" credit score and I can write my own check.

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