Any programs available for the retired these days?  I have a client that was recently denied becuase DTI was to high.  He would like to reduce the payment in some way and a loan modification would just not be suitable for him.  We are looking approximately at about 40% LTV with $100,000 in reserves with excellent credit.  Currently has a interest rate at 6% that he would like to bring down on a 30 year fix.  If there is a loan that is beneficial for the client please contact me, thanks.

Joseph,

If your client is 62 or older, a reverse mortgage might be a good choice.

Hi Joseph ,

Do you knwo what the front end and back end ratios are ?...

Hi Joseph,

Can you tell me more about the $100,000 reserve?  Is it in the stock market, annuity etc?

Does he have any sourace of income at all?

Thanks

Jacob

NMLS 327086

http://www.swanloans.com/web/pgcnfID_112962/Welcome

Please contact me:

Jeff

ClearVision Funding (Wholesale Lender)

657 269 5147 Direct

jlee@clearfundings.com

www.clearvisionfunding.com

If the guy is 62 please do him a favor and refer him to a good reverse mortgage consultant.