Another Chance helps with financing options

When her 30-plus-year marriage ended, Southern Nevadan Carol Ann Beck found herself at an unexpected crossroads. Among the myriad changes that she faced was the realization that she could not afford her home’s mortgage by herself.

After her earnest, albeit frustrating attempt in securing a mortgage loan modification, she believed that she had no other choice than to rent as her golf-course community home went on the auction block.

After a year of renting, she discovered that her housing options were not limited and that she could indeed become a homeowner again through Premier Mortgage Lending’s Another Chance Nevada program.

“I had a really nice house, but after my husband left I couldn’t pay for it on my own. It went into foreclosure and I moved into an apartment, and apartment living was awful. When I met with a Realtor to help find a house to rent, she told me about Premier Mortgage Lending and a new loan program that could help me buy another house, something that I didn’t think that I could do for many years after a foreclosure,” she said.

“For me, this loan program was the most wonderful thing that could happen. I bought a house last year in Summerlin that’s perfect for me. My credit was good and the only thing that happened was a tragedy.”

Beck is among hundreds of Southern Nevadans who have purchased another home after experiencing a foreclosure or short sale through Another Chance Nevada.

Through the program offered by Las Vegas-based Premier Mortgage Lending, private and institutional portfolio lenders offer home loans following full-documentation underwriting guidelines.

These 15- or 30-year, fixed-rate loans carry interest rates that are typically higher than traditional mortgage rates. At least a 20 percent down payment is required. Borrowers may close within 30 days from the time of loan approval, and may refinance the loan at any time without penalty.

An Another Chance loan may be used on the purchase of a resale or a new home.

The lender is currently working with Beazer Homes, D.R. Horton, Dunhill Homes, Harmony Homes, KB Home, Pardee Homes, Pulte Homes and Del Webb, Richmond American Homes, Ryland Homes and William Lyon Homes.

The full-service lender provides complimentary mortgage prequalification to help individuals determine if they may qualify for Another Chance Nevada or traditional mortgage programs.

Beck lauded the mortgage and home-buying process as well as the service provided by Premier Mortgage lending.

“… The whole process was as straight forward as it can be. I worked directly with Andrea Hall at Premier and she kept me very informed throughout the whole process. It was a perfect transaction really, and everyone involved, including Andrea and the Realtor, were very kind,” she said. “I had a really wonderful experience, and I am hoping to work with Premier again in the future to refinance (into a traditional mortgage loan).”

For additional information or for mortgage prequalification, call Premier Mortgage at 485-6600 or visit www.Another

Premier Mortgage Lending is at 8689 W. Sahara Ave., Suite 100. The company is a member of the Las Vegas Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.

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