| This month we’re sharing some borrower stories. Stories about bad things that happen to good people.
This week’s tale is about a delivery driver who was out of work for a year due to a heart attack. Despite being long time customers of one of the big 5 banks, the driver and their partner were declined when they asked for refinancing on their mortgage.
This was especially painful, because not only did they have great equity in their home, they had not ever missed a mortgage payment. The only issue was that some credit cards had started to fall behind due to the driver’s income loss. That, and the banks typically put a lot of weight on income itself.
The borrowers then reached out to a local broker who submitted the application to RiverRock to see what could be done. Without a hitch, we were able to offer a new 2nd mortgage to consolidate their interest rates and reduce their monthly payments.
Many financial institutions have very stringent requirements. They don’t care how good of a person you are if they perceive even a small risk. RiverRock is here to offer an option for these tricky situations. If you have a borrower who needs fast, fair and flexible help, please reach out. We’re always happy to chat.
When bad things happen to good people RiverRock is there to help. That is RiverRock’s mission.
We work exclusively with licensed mortgage brokers and agents to help you close your hard to place deals. - 1st & 2nd mortgages up to 80% LTV
- We accept self-declared income letters with no supporting documentation
- No minimum credit score
- No maximum service ratios
- Only one lawyer used on closing, the clients
- 2 hour approvals and we can close within 24 hours
Fast, Flexible and Fair
The RiverRock Advantage |
