Bad Credit / Sub-Prime Mortgage for Owner Occupant

[Daryl Jarrett]

I know we are not allowed to use bad language on the forums, so sorry for saying "Sub-Prime Mortgage", but that is exactly what my client needs! I am trying to sell one of my properties in North East Philadelphia to the tenants who have been living there for over three years. There are actually related people who would be applying for the mortgage, their credit scores range from 510 to 575. Their combined house hold annual income is over $90,000. They pay $2,325.00 per month in rent and are current. The house that they are looking to purchase is a large single home and would appraise for about $280,000. My selling price with them is $259,900 and I am offering them $9,500 in seller's assist, and they have about $10,000 cash to put down. So far they have been unable to obtain a mortgage. So, my question is does anyone know of a "Bad Credit" or "Sub-Prime" Lender that operates in the Philadelphia, Pa 19136 area? Also, if the lender needs more "Protective Equity" do they allow the seller to hold a second mortgage?

Thanks,

Daryl