QUOTE(Vintage @ May 5 2007, 12:43 AM)
I wonder is there anyway for those with poor credit to obtain Mortgages?
No doubt, we are all facing a terrible mortgage market, with Fannie and Freddie collapsed, along with CitiBank, and hundreds of others collapsing daily, with no end in sight, the subprime mortgage industry is dead and gone forever.
Even those with good credit are now under pressure to find a lender, and with required 20% down now the normal, this will shut millions out of the housing market, never mind all those who have no credit, bad credit or bankruptcies and foreclosures. With millions facing foreclosure, no one knows just how much worse it will get.
Having been in the construction industry, real estate and mortgage broker, I have never seen it worse than it is now. With the current situation, there has to be an alternative, and in trying to salvage my existing construction business, I found ICF World Homes, and talk about strategies to solve this industry wide dilemma, this is it.
Simply put, no credit, bad credit, bankruptcies and even foreclosures, it doesn't matter, everyone is approved with ICF, and no banks are involved, this is all based on a cooperative effort of each who become involved and order a home plan. From starter homes to mansions, no one is denied, and with only a fraction of the usual down payment to get your plan ordered, this is the answer to everyone's dream home prayers.
You can purchase a plan as a customer and you should be in your starter home in about a year, the larger the home, the longer it will take, but given the market conditions, and the current growth in demand for alternative funding, the time frame to move in mortgage free could be shorter. If you want to get into your dream home sooner, you can become an independent contractor and earn your home equity by sharing concept with others. It is up to you how soon you want to get into your dream home. Check out the home plans and funding alternative by taking the free tour, it is a real eye opener.
Success to all, Mike