Kentucky Home Buyers. Purchase a Home No Money Down.



I can answer your questions and usually get you pre-approved the same day. 

Call or Text me at 502-905-3708 with your mortgage questions.

Joel Lobb
Mortgage Loan Officer
Individual NMLS ID #57916
American Mortgage Solutions, Inc.
10602 Timberwood Circle 
Louisville, KY 40223
Company NMLS ID #1364

Text/call:      502-905-3708

 

fax:            502-327-9119

Check out the Fannie Mae HomePath listings in Jefferson County Louisville, Kentucky for 2016


 

images (6)

 

Address Location Type Status Price Beds Baths
Previous Next
223 Middletown Sq
Louisville, KY
Single Family Just Listed $78,000 1 1 First Look Program
1663 Al Mara Cir
Louisville, KY
Single Family Just Listed $195,000 4 3 First Look Program
609 Logsdon Ct
Louisville, KY
Condo Just Listed $75,000 1 1 First Look Program
8206 Roland Ave
Louisville, KY
Single Family Just Listed $194,000 3 2.5 First Look Program
9831 Brooks Bend Rd
Louisville, KY
Single Family Price Reduced $149,000 3 2
5851 New Cut Rd
Louisville, KY
Single Family Price Reduced $109,900 4 2
603 Glen Ct
Louisville, KY
Single Family Price Reduced $349,000 4 3
3802 Vermont Ave
Louisville, KY
Single Family Active $19,900 2 1
8014 Woodbury Dr
Louisville, KY
Single Family Active $62,000 3 1
4905 Applegrove Ln
Louisville, KY
Single Family Active $88,500 3 1
4515 Hazelwood Ave
Louisville, KY
Single Family Active $36,000 3 1
516 Academy Ridge Pl
Louisville, KY
Single Family Active $395,000 5 4
3013 Linwood Ave
Louisville, KY
Single Family Active $16,500 2 1 First Look Program
4208 Wisteria Landing Cir Unit 203
Louisville, KY
Condo Active $59,500 1 1
8301 Atlanta Pkwy
Louisville, KY
Single Family Active $99,900 3 2
10610 Sycamore Ct
Louisville, KY
Condo Active $96,000 2 2
110 S Arbor Park
Louisville, KY
Single Family Active $59,000 2 1
6936 Norlynn Dr
Louisville, KY
Single Family Active $185,000 5 2 First Look Program
1219 Lipps Ln
Louisville, KY
Single Family Coming Soon 3 1
303 Harpers Ferry Rd
Louisville, KY
Single Family Coming Soon 3 1.5
7711 Bluebonnet Rd
Louisville, KY
Single Family Coming Soon 3 1
6714 Brook Bend Way
Louisville, KY
Single Family Under Contract $175,000 3 3
3707 Chatham Rd
Louisville, KY
Single Family Under Contract $135,000 3 2
3209 Welman Dr
Louisville, KY
Single Family Under Contract $89,900 3 3
5312 Georgia Ln
Louisville, KY
Single Family Under Contract $79,000 2 2
2015 Patricia Dr
Louisville, KY
Single Family Under Contract $127,000 3 1
13200 Bessels Blvd
Louisville, KY
Single Family Under Contract $144,000 3 3
5210 Plume Dr
Louisville, KY
Single Family Under Contract $132,900 3 2
2209 Osage Ave
Louisville, KY
Single Family Under Contract $27,500 3 2
131 N 38th St
Louisville, KY
Single Family Under Contract $19,000 3 2
4128 Hillview Ave
Louisville, KY
Single Family Under Contract $24,900 2 1
5203 Gathwright Dr
Louisville, KY
Single Family Under Contract $66,900 3 1.5
509 Christopher Pl
Louisville, KY
Single Family Under Contract $58,000 2 1
4303 Bayberry Dr
Louisville, KY
Single Family Under Contract $105,000 3 1
11909 Tazwell Dr Apt 2
Louisville, KY
Condo Under Contract $72,500 2 2
919 Loretto Ave
Louisville, KY
Single Family Under Contract $21,000 3 1
7502 Faxon Ct
Louisville, KY
Single Family Under Contract $66,000 3 2

I specialize in Kentucky FHA, VA ,USDA, KHC, Conventional and Jumbo mortgage loans. I am based out of Louisville Kentucky. For the first time buyer with little money down, we offer Kentucky Housing or KHC loans with down payment assistance.
I specialize in Kentucky FHA, VA ,USDA, KHC, Conventional and Jumbo mortgage loans. I am based out of Louisville Kentucky. For the first time buyer with little money down, we offer Kentucky Housing or KHC loans with down payment assistance.
 
Joel Lobb
Senior  Loan Officer
(NMLS#57916)
 
 Fax:     (502) 327-9119
 
 

 

Obtaining new financing after a Short Sale or Foreclosure for a Kentucky USDA, FHA, VA, and Fannie Mae Loan


credit scores will fare after a short sale or foreclosure
Obtaining new financing after a Short Sale or Foreclosure for a Kentucky USDA, FHA, VA, and Fannie Mae Loan

 

Kentucky Mortgage Short Sale:
Conventional Loans Require:
Minimum 2 years with restrictions up to 7 years
2 to 4 years – 80% maximum LTV
4 to 7 years – 90% maximum LTV
7 years and after allow for maximum standard financing
Kentucky FHA and Kentucky VA Loans Require:
3 years, with exceptions possible for less time if borrower’s credit and mortgage payments were in good standing prior and up to date of Short Sale
  Kentucky Mortgage Foreclosure:
Conventional Loans Require:
7 years, with exceptions considered between 3 to 7 years if significant extenuating circumstances exist
Kentucky FHA and Kentucky VA Loans Require:
FHA: 3 years, with exceptions possible for less time if significant extenuating circumstances exist
VA: 3 years, with exceptions possible for less time if significant extenuating circumstances exist
Please contact me for a free mortgage pre-approval or with questions!

 

Joel Lobb
Senior  Loan Officer
(NMLS#57916)
 
American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223

text  or call phone: (502) 905-3708
 Fax:     (502) 327-9119
 Company ID #1364 | MB73344

 

Fill out my form!

 

 

 

 

FHA changes may aid those who lost homes


FHA changes may aid those who lost homes.

Kentucky FHA changes may aid those who lost homes

The Federal Housing Authority has shortened the mandatory waiting periods for an Kentucky  FHA-insured mortgage loan for those who have undergone foreclosure, deed-in-lieu, taken a short sale or declared bankruptcy during the economic recession.

 

Through its new program, Back to Work—Extenuating Circumstances, the waiting period for most borrowers is now just 12 months instead of the typical three, seven or 10 years. Both first-time and repeat home-buyers can apply. “Most people do not know this program has been released, and are only renting because

If you feel like you qualify for this and live in Kentucky, please call or email me with your questions and I would be glad to see if you qualify for the new Kentucky FHA Program for free.

 

Joel Lobb (NMLS#57916)
Senior  Loan Officer
 
American Mortgage Solutions, Inc.
 800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223
((502) 905-3708 |

FHA changes may aid those who lost homes

FHA expands mortgage backing to the once bankrupt | 2013-08-16 | HousingWire


FHA expands mortgage backing to the once bankrupt | 2013-08-16 | HousingWire.

SURRENDURING YOUR HOME IN BANKRUPTCY


SURRENDURING YOUR HOME IN BANKRUPTCY.

 

Kentucky Mortgage after a bankruptcy, foreclosure, short sale approval
by: Tracy L. Hirsch, Attorney

One of the hardest decisions a family has to make is deciding to surrender their home in a bankruptcy proceeding. Often times, this means allowing a home to go through the foreclosure process and discharging their mortgage obligations in a Chapter 7 bankruptcy. Many homeowners are concerned about the foreclosure process and their obligations to their mortgage company once their bankruptcy process is complete.

 

Often times, when a person chooses to surrender their home in bankruptcy, he is in the middle of the foreclosure process. Filing a bankruptcy petition creates an automatic stay, which puts an immediate halt to the foreclosure process.

The mortgage company may then choose to either file a motion with the court to re-start the foreclosure process (called a motion to terminate the automatic stay) during the 90 days of the Chapter 7 process or wait until the Chapter 7 is discharged to initiate the process again. Either way, foreclosure is a long, legal process and it often takes anywhere from four to eight months for the house to be sold at the foreclosure sale. Regardless of when the bankruptcy is complete, the home still belongs to the homeowner until the home is sold at the commissioner’s sale.

In order to understand why bankruptcy may not be immediately necessary in order to get out from under a mortgage, one needs to understand how the foreclosure process works. In most states, including Kentucky and Indiana, creditors are required to utilize a process called judicial foreclosure.

The way it works is this. Once there has been a default, the creditor initiates the foreclosure process by filing a Complaint in the Circuit Court of the county where the property is located. The creditor must then obtain service of the Complaint on the debtor in a manner permitted by law. Once service has been obtained, the debtor then has 20 days to answer the Complaint. The purpose of this is to allow the debtor to assert any defenses that he may have. If the debtor fails to file an Answer to the Complaint, then the creditor gets a default judgment.

After obtaining a default judgment against the debtor, the creditor may then proceed to obtain a sale date. Normally it takes at least 4 months or longer from the time of service of the Complaint until the sale date. On the sale date, the property is auctioned off at the courthouse to the highest bidder. The proceeds of the sale are then credited to the loan, and what is left over, referred to as the deficiency balance, is what the debtor owes the creditor.

If the property sells for enough to cover the balance of the loan, then there is no debt that is owed by the debtor. So until such time that the property actually sells at foreclosure, it is impossible to know for sure how much the debtor will actually get stuck with. So if you owe $150,000 on your mortgage, this does not mean that you personally are on the hook for that amount. If the house sells for $140,000, then you only owe the $10,000 difference.

So before you decide that you need to file bankruptcy solely because your home is going into foreclosure, you may want to wait and see what the outcome is from the foreclosure sale. You may owe less than you think. Now if you have other reasons for filing bankruptcy, such as credit card or medical debt that you can’t pay, then it makes sense to go ahead with the filing. But if it is all about your mortgage, you may want to wait and see what the damages are before pulling the trigger on a bankruptcy filing.

Joel Lobb
Senior  Loan Officer
(NMLS#57916)
 

Text or call phone: (502) 905-3708
 
 
 

The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only.  The posted information does not guarantee approval, nor does it comprise full underwriting guidelines.  This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the views of my employer. Not all products or services mentioned on this site may fit all people

 

 

Louisville FHA Kentucky Mortgage Recently HUD/FHA issued three new mortgagee letter…: Will these recent FHA Changes do anything?


Recently HUD/FHA issued three new mortgagee letters that on the surface indicates a new way that HUD/FHA is going to treat borrowers with past credit problems.

Will these recent FHA Changes do anything?

Will these recent FHA Changes do anything?

Recently HUD/FHA issued three new mortgagee letters that on the surface indicates a new way that HUD/FHA is going to treat borrowers with past credit problems.

The reason for my skepticism is due to credit scoring. HUD/FHA allows a FHA borrower with 10% down with a credit score as low as 500. Borrowers with credit scores 580 and above can obtain maximum financing. The FHA allows credit scores as low as 500, however, most institutional investors have overlays that prevent FHA borrowers to obtain FHA financing with credit scores below 640 some not lower than 620.

All those recent changes mean nothing if the credit scores are too low and you have no institutional investor to purchase the loan file.
If HUD does not apply pressure to the large banks to go by their guidelines then these guideline changes mean nothing.
Questions, please call or email me with your questions. I look forward to helping you buy your next home even if you had a past foreclosure, short sale or bankruptcy in Kentucky.
Joel Lobb (NMLS#57916)
Senior  Loan Officer
502-905-3708 cell
502-813-2795 fax
kentuckyloan@gmail.com

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*

Louisville, KY 40222*

I specialize in First Time Home Buyers and move-up buyers. I have helped over 500 families buy their first home or second home and I would like to help your family. FHA, Rural Housing, KHC( Zero down loans ), VA, Conventional loans. Free credit report and Free pre-approvals within 1 hour..Call me today at 502-905-3708 or email me at kentuckyloan@gmail.com- (NMLS# 57916)