here’s a quick little story I wanted to share with you….
My team at Duckworth Lending Group are experts in First Time Homebuyers, 203k renovation loans as well as credit challenged borrowers.
To give you an idea of what that means, we just took over a file from a mortgage broker. The borrower had a low FICO score due to 2 medical collection accounts that were filed within the past 6 months. The broker did not know how to help them. He had the file for 2 months and the escrow was due to close within 2 weeks.
Within two hours we had completed conference calls with the hospital, the hospital billing office and the two collection agencies. We found that the insurance company paid the bills six months after the fact. On one of the accounts they only needed pay the $75 co-pay. We were able to successfully get both collection accounts deleted from their credit bureau resulting in a 42 point increase in mid-score.
This couple is now able to complete their escrow on their beautiful new $200,000 home using the VA loan program. Needless to say the realtors are ecstatic.
The lesson on this story was that the borrower did not have the knowledge or the patience to work through this problem himself. With a little help and a big dose of “calm” we were able to help him work through it. The marks are off his record and he’s ready to move forward into his new home.
Let us help you and your clients. Call us any time. (480) 359-5682. If you don’t reach us right away we will get back to you within a few hours the same day or the next morning. Every time.