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Bankruptcy No Longer Means "no" Mortgage
– Jose H. Caraballo, mortgage industry speaker, writer and Senior Loan Officer at Esquire Lending Company, is helping many South Floridians with "bankruptcy" in their past, achieve the American dream of becoming homeowners. Jose H. Caraballo, a mortgage expert states, "Americans have been filing at record-high levels over the past five years and each year that number increases. A does not necessarily disqualify a borrower from purchasing a home. Recognizing that has sometimes resulted from unfortunate events and not always mismanaged finances, we at Esquire Lending Company are becoming more willing to take the calculated risk."Instead of waiting two or four years after being discharged from bankruptcy, this mortgage professional is willing to give buyers a home loan much sooner. Those who have declared Chapter 7 may be eligible for a loan in as little as one day after the discharge. Still, others may be eligible in as little as one year. Those who have declared Chapter 13 may be eligible for a loan even while they
are still reorganizing."Another common misconception is that a previous will require you to have a large down payment and pay extremely high rates and points" Caraballo says. Currently, there are programs available with as little as 3 percent down and sometimes even no down payment with attractive rates and points. Due to new options in the mortgage industry, no longer needs to stand in the way of getting a home loan. With the help of the professionals like Jose H. Caraballo, those who have experienced financial difficulty will have an easier time getting a mortgage.Sadly, an increasing number of consumers are filing for every year. Jose H. Caraballo wants to dissolve this misunderstood area of mortgage financing that leaves many families unable to take advantage of the many benefits that homeownership brings and get them into a home of their own. Mr. Caraballo has been featured in the Bar Association newsletter. Contact Jose H. Caraballo for insights on other mortgage or credit-related matters..
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