About Joe Montgomery Expertise I can answer most any question in this area, unless they are seeking legal advice.
Experience I have worked in the lending industry for over 15 years, and worked in consumer lending, (Personal loans, and small collateral loans) as well as mortgage lending during the first 6 years of my career
Publications Currently an all experts expert for mortgage loans.
Question QUESTION: My husband and i ran a business which went under due to lack of payments by customers, which resulted in us filing bankruptcy. this june we will have been out of bankruptcy for two years we are looking to buy a camper and we cannot find anyone who is willing to give us a loan? do you have any suggestions
ANSWER: This is a tough sell to a lender. Depending on the type of camper, some lenders are worried that they could never 'repossess" the collateral if necessary. This makes them a little less than anxious to lend. Time, and down payment are the only real solid pieces of information I can give you. 10% or more down should help the approval process, and time. Every month past the two year mark for your bankruptcy should help. Lastly, if you own a home, giving a 2nd mortgage as collateral would really help seal the deal.
Hope that helped you out some.
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QUESTION: no we cannot even get a loan for the house that we currently rent and are wanting to buy. the bank says our payment now is 300.00 more a month than what it would be if we were buying and our debt to income ratio is at 21% so if you can provide answers on where to get 100 % fincancing on home
Answer Depending on your credit score there are several companies that can do a loan of this type. Peoples Choice Home Loan, Lending 1st Mortgage. You just need to look on the internet, however, if you have been trying to qualify for a home loan, and a camper loan, the problem may be that you are getting too many inquiries on your credit report which could lower your score.
