How can I get a same day loan for about 25k tomorrow?

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I found a great property investment opportunity which involves me reinstating a foreclosure and purchasing the property at the principle amount afterwards. I qualify for the the loan portion and have closing costs covered. Credit about 700, but my commision work history is only 1 year old and not reflecting on last years taxes (since I used to work an hourly job). I would have mortgage and loan payed off in less than two months. What options might I have?

We closed on a new home mortgage on 3-30-07. SouthStarFunding carried the 2nd on that loan. On 3-30-07 SSF closed the doors but funds were rec’d at closing. 1st mortgage lenders assured me that they did purchase the 2nd when SSF closed but to date, I don’t have a new account number or, anything at all, in regards to this being done/settled. 1st payments on both notes are due in 14 days and we are concerned about not having rec’d anything about the 2nd mortgage. Shouldn’t we have rec’d something, anything, by now? And what do we do if we still don’t hear anything within the next week or so? Although 1st lender has been great with us during this whole process, my questions about the 2nd seem to be trivial now. Are they?

2 Comments
  1. Reply
    Debby B
    January 22, 2011 at 10:31 pm

    Have all your paper work together and call you loan dept- at the bank you use- and talk to the loan officer asap and explain the situation-D

  2. Reply
    mazziatplay
    January 22, 2011 at 10:59 pm

    You signed a note for payment of the 2nd mortgage. Someone is going to want to get paid for it. I’d call the 1st holder and ask them about the payment coupon or statement before anything else.

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