Are their loans for people with recent mortgage lates?
I am int he process of selling my home since my market is wayyy down and im getting out now and i went to get a new mortgage and they said i was pre approved so i wet ahead and built my house well now its time to close and they said they cannot do the loan since i haev a recent late from october and december 07? we haev a fico of 650 and nothing else is late or currently behind. i was using a program equity accfelerator and after a few months i was not happy so i cancelled and they had not made that months payment and i was under the impression they had so i made my next payment and so forth and then found out i was late when i was getting pre approved, but with the lender knowing i was late still preapproved me and now im facing losing my home built for me and im in escrow with the one im selling all ready? any advice? my lender suggests an adjustable since i have the lates but i have heard bad about those any ifo would be appreciated thanks