Refinance Success Story: From Foreclosure Fears to Homeownership Happiness!

Rickey and Lisa were in a tough spot. Their home was at risk of foreclosure, and they needed help fast.

When they first bought their mobile home, they took the best option available to them for financing, a private mortgage. However, the private mortgage they had signed came with a balloon note, a common feature for this type of loan. This meant they had a hefty lump sum payment due at the end of the mortgage term. While their monthly payments were manageable, the looming balloon payment was a nightmare. Luckily, the lienholder was patient and allowed them extra time, but he eventually gave them an ultimatum: refinance or face foreclosure.

Their troubles really began when they approached a new mortgage lender. The lender started the refinance process and even went through underwriting. However, to Rickey and Lisa's dismay, the lender denied the loan without a clear explanation, simply saying that "mobile homes are difficult to refinance".

Undeterred, they found another lender who assured them that it would be a straightforward process. They restarted the refinance process, provided all necessary documents, and went through underwriting again. But once more, they received a frustrating denial with little explanation. They had now gone through the refinance process twice, paid for two appraisals, and were no closer to a solution. The private lender gave them one more chance to refinance, warning of impending foreclosure if they faced another denial.

That's when Rickey and Lisa reached out to me. They couldn't recall how they found my information or who recommended me -- it didn't matter. What mattered was saving their home from foreclosure. Understandably, they were hesitant about another refinance attempt, but they had nothing to lose at this point, except their home of course. They submitted their documentation, and the loan was sent to underwriting, resulting in a loan commitment. Closing day was a sigh of relief and joy!

Imagine if you could work with someone who genuinely cares about your needs and financial well-being. Contact me and I'll provide the same dedicated service that saved Rickey and Lisa's home.