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The realm of mortgage financing is a various panorama, the place every borrower’s path is crammed with its personal set of challenges and triumphs. Lately, we had the privilege of aiding a borrower by way of a fancy closing course of. Regardless of dealing with rejections from quite a few lenders, MortgageDepot was decided to discover a answer tailor-made to the borrower’s particular circumstances.
Our borrower, a divorced resident of New Jersey sought a second lien/dwelling fairness mortgage to deal with urgent monetary wants. The problem lay to find a lender prepared to think about her common earnings, baby assist, and alimony collectively to fulfill qualification standards. Preliminary makes an attempt with different lenders resulted in rejection, with issues raised in regards to the impending expiration of her alimony in two years, regardless of ongoing baby assist— a state of affairs that conflicted with the usual tips requiring steady alimony for eligibility. Most lenders providing second lien/dwelling fairness loans had been unwilling to entertain the borrower’s distinctive state of affairs. Undeterred, MortgageDepot launched into a mission to discover a lender prepared to make exceptions to traditional qualification eventualities. After an exhaustive search, we efficiently discovered a lender prepared to make the exception and finalized the deal. With this complete method, we secured approval for the second lien/dwelling fairness mortgage, offering the borrower with the means to consolidate and repay her high-interest bank card money owed.
This closing serves as a testomony to the facility of willpower and the worth of in search of personalised options within the mortgage business. At MortgageDepot, our dedication lies in navigating the complexities of our purchasers’ monetary journeys and discovering progressive methods to beat obstacles. In case you’re a divorced particular person dealing with distinctive challenges in securing a second lien/dwelling fairness mortgage or have baby assist and/or alimony expiring within the close to time period, don’t hesitate to attain out to us. Your success story could also be simply across the nook, ready to unfold.
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