The realm of mortgage financing is a various panorama, the place every borrower’s path is stuffed with its personal set of challenges and triumphs. Just lately, we had the privilege of helping a borrower by a posh 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/house fairness mortgage to handle urgent monetary wants. The problem lay to find a lender keen to think about her common earnings, little one assist, and alimony collectively to satisfy qualification standards. Preliminary makes an attempt with different lenders resulted in rejection, with considerations raised in regards to the impending expiration of her alimony in two years, regardless of ongoing little one assist— a state of affairs that conflicted with the usual tips requiring steady alimony for eligibility. Most lenders providing second lien/house fairness loans had been unwilling to entertain the borrower’s distinctive situation. Undeterred, MortgageDepot launched into a mission to discover a lender keen to make exceptions to standard qualification eventualities. After an exhaustive search, we efficiently discovered a lender keen to make the exception and finalized the deal. With this complete method, we secured approval for the second lien/house 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 ability of willpower and the worth of in search of personalised options within the mortgage trade. At MortgageDepot, our dedication lies in navigating the complexities of our purchasers’ monetary journeys and discovering revolutionary methods to beat obstacles. Should you’re a divorced particular person dealing with distinctive challenges in securing a second lien/house fairness mortgage or have little one 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.