TENNESSEE HOME TEAM, LUXURY HOMES & SUPERIOR SERVICE (Adaro Realty, Inc.)

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Rainer
2,319
Violet Dube-Moody
Acres Away Realty - Lincoln, ME

He needs an attorney and he needs to deal with the car dealership.

 

Sep 10, 2015 10:44 AM
Ambassador
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Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

I know nothing about your country's financing rules and regulations but I'd like to say I like that you believe in your client and that you trust what he says is happening.  

I hope he gets his dealership woes dealt with soon and that you can find him the perfect place!

Sep 10, 2015 10:34 PM
Ambassador
4,892,008
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Sorry I cant be of much help here, but I am sure glad that this is a safe place to get a little coaching when we need it!

 

Sep 10, 2015 03:14 PM
Rainer
214,523
Sharon Altier, SFR
Lawton Realty Group, Inc. - Elmhurst, IL
Your Real Estate Partner

I guess the red flag for me is whether the Buyer has the mental capacity to enter into a home contract.  Car purchasing doesn't work that way, so will they want to "retun" a home if they find an issue after moving in?  If no issue there, I would agree with Violet that a attorney can help them with the auto dealership and repairing credit. 

Sep 10, 2015 02:27 PM
Rainer
230,874
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

this is a place to not be judged. but i feel your client will be judged by any lender. he needs someone to step in and help with his car situation to correct his credit or he may be in trouble getting a loan. autos are an important part of a credit score

Sep 10, 2015 02:20 PM
Ambassador
2,979,590
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

There's no such thing as getting a VA loan without a credit score.  VA doesn't give loans period.  They insure loans made by banks to people who qualify. And I'm not sure you're getting the truth about the truck.

Sep 10, 2015 01:34 PM
Rainmaker
385,902
Jill Murty, Realtor - Orange County, CA
Sunset Properties, Powered by Movoto - Laguna Niguel, CA

I wish he would have continued making the truck payments until after you found him a place and he closed.

And what Violet Dube-Moody said.

Sep 10, 2015 12:33 PM
Ambassador
3,985,869
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I have been selling homes on VA loans for 35 years and never heard that the investor would accept a VA buyer with no credit score. They do allow a higher debt ratio than on a conventional loan. I think your guy is out of luck right now until he resolves this credit issue. Does your state have a Lemon Law? If so he may be able to get some relief through it.

Sep 10, 2015 11:24 AM
Rainmaker
2,463,612
Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School - Panama City, FL
Rowlett Real Estate School / Owner and Instructor

What a situation.  I have never heard of a VA loan with no credit score.

Sep 10, 2015 11:14 AM
Rainmaker
714,888
Sara Wagner
The Woodland Companies - Adams, WI
Stevens Point Rentals

Get a good attny to take care of this dispute with the car dealer.

Jan 20, 2019 02:54 AM
Ambassador
3,717,135
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Daniel, I think that most of us are pretty non-judgemental.  And I'll let some of the lenders chime in on your problem.  But if I were the veteran?  I'd get a bunch of buddies together, call the local TV stations and then picket the dealership.  What a bunch of skunks!

Sep 11, 2015 02:34 AM
Ambassador
2,759,162
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Good Friday morning Daniel. There are a couple of mortgage folks here in active rain. Reach out to them perhaps they can give you the best answer. They seem to be very knowledgeable.

Sep 10, 2015 07:29 PM
Rainmaker
1,507,314
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

I just wanted to wish you and your client well. I'm sure someone from AR lenders will provide you with correct information and hopefully assistance.

Sep 10, 2015 04:36 PM
Rainmaker
829,422
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate www.ChandlerRealEstate.weebly.com - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Daniel - Sounds like your buyer client needs to put his home purchasing on hold until he resolves the issue with his truck and credit score.

I too have not heard of a VA loan that does not require a credit score.

Sep 10, 2015 03:34 PM
Rainmaker
2,359,447
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Dan. I represent over 40 lenders and am not aware of any of them that will do a loan for anyone that has not credit scores, if the person has credit scores, which your client does have.

I do have two lenders that will do a loan for someone who has no scores at all, as long as we can show three alternative sources of credit, that don't report to the credit bureaus. This scenario is completely different than the situation you described.

I wish I had a better answer for you. I would however, file a complaint with the state you are in, either with the attorney general or dept of consumer protection to get the dealership to clean up the credit.

Sep 11, 2015 01:28 AM
Rainmaker
3,766,314
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Daniel - you are right, AR is a safe place to ask a question although I might suggest making this "members only".   

I'm not an expert in mortgages let alone VA but there are plenty of them here:   John Meussner and Joe Petrowsky to name just two who can likely make some suggestions.  

Sep 11, 2015 12:56 AM