Mortgage Companies that Deal with Bankruptcies

This article will discuss various mortgage companies that deal with bankruptcies.  Mortgage Companies are the kind of companies that borrow money to provide loans for prospective homeowners and then sell the loans to investors.

Here is the list of different Mortgage Companies that Deal with Bankruptcies;

Greenbox Loans

Greenbox Loans provides mortgages that allow credit scores as low as 600.  The highest LTV is 80%, and income can be confirmed using 24 months of bank statements.  The maximum loan amount available is $1,000,000.

Citadel Servicing 

Citadel Servicing is the main of all non-prime mortgage lenders, as well as those that render a bank statement loan program. One of the reasons that Citadel is so admired is that they allow up to a 90% LTV with bank statements utilized for income documentation.

They also offer quite a bit of compassion on credit history.  This includes credit scores into the mid-500s and no seasoning requirements on major offensive credit matters, such as bankruptcies, foreclosures, or short sales.

Caliber Home Loans

Caliber Home Loans operates and offers the Fresh Start program.  This non-prime loan product allows for borrowers who can show their ability to refund a mortgage but do not qualify for traditional mortgage products.

No periodic requirements exist for major credit issues, such as foreclosures and bankruptcies. 

The guidelines regarding credit are also quite lax.  The minimum FICO credit score for the Fresh Start program is 580.  The lowest down payment is 15%, and loan amounts are available from $100,000 to $1,000,000.

Northstar Funding

Northstar Funding renders numerous highly competitive non-prime loan products, stated income loans, foreign national mortgages, asset reduction loans, bad credit mortgages, and options for people just one day out of bankruptcy, foreclosure, or short sale.

They are also known as one of the best FHA-accepted lenders, allowing credit scores as low as 500 on FHA loans, on both purchases and refinances (including cash-out refinances)

Carrington Mortgage Services

Carrington Mortgage Services offers mortgages to qualifying applicants with credit scores as low as 500.

Another grand thing about Carrington is their compliance to participate in down payment assistance programs and even assist and guide borrowers through the qualification process of getting down payment assistance.

JMAC

While not a subprime lender, JMAC also offers mortgages to eligible applicants with credit scores are as low as 650. 

Their programs could be likened to an ALT-A loan of the past. They cater to mid-range credit scores and those with higher scores but with option financing needs (like utilizing bank statements instead of tax returns).

Quicken Loans

Quicken Loans is the nation’s main online lender.  They finance various types of mortgages, including those offered to borrowers with lower credit scores.  They are not officially a subprime lender but also render many non-prime programs, Rocket Mortgage.

Athas Capital

Athas Capital offers what they precisely call subprime loans.  The procedure for the Athas subprime mortgages requires you to have at least a 520 credit score and 2 years of verified bank statements.

Bank statements are acceptable instead of pay stubs and tax returns for verifying employment and income.  DTI ratios must also be supported, and the specific debt-to-income ratios for their subprime loans are often capped at 50%.

Northstar Funding

Northstar Funding renders numerous highly competitive non-prime loan products, stated income loans, foreign national mortgages, asset reduction loans, bad credit mortgages, and options for people just one day out of bankruptcy, foreclosure, or short sale.

They are also known as one of the best FHA-accepted lenders, allowing credit scores as low as 500 on FHA loans, on both purchases and refinances (including cash-out refinances)

Conclusion

In this article, we have provided the list of companies that allow intending house owners to purchase large real estate properties without paying a large purchase price upfront.

This will help you know which company can allow you to repay the loan over time – in periodic installments with little interest payments.