Will being on unemployment affect getting a mortgage loan modification?
Our house is going in to foreclosure and we are trying to get a loan modification. My husband found out he is likely to lose his job next month. Will this affect getting a loan modification?
It could but if you have prospects of future employment it may not affect you.
What is the average interest rate for home mortgage with bad credit?
I am looking into purchasing a home, but I have bad credit. I know they say interest rates are low, but what is the average for someone with bad credit? Just trying to figure out what my mortgage payment would be, but need an interest rate.
buildcredit.ifastnet.com – try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.
Will having bad credit disqualify you from enlisting into the Army?
I have a relatively bad credit, credit cards in college, delinquent payments, etc, but I am on track to getting everything squared away. My total amount in debt is less than $5000 but I recently checked my credit score and it wasn’t that great. I hope to enlist into the Army next summer and was wondering if my bad credit score disqualify me from enlisting. Any information would help. Thank you.
Bad credit won’t disqualify you from joining but it can disqualify you from getting a secret or top secret clerance, limiting the jobs you qualify for. You should talk to a recruiter next week instead of waiting until next summer for more info because on average people who join don’t ship to basic until several months later. Also, the Servicemembers Civil Relief Act can be used to drop your interest rates prior to enlistment to six percent.
How badly does a short sale affect your credit?
I am considering a short sale on my home in order to avoid foreclosure, but before I proceed, I would like to know how it will affect my credit. Will it be as bad as a foreclosure? How long will it be before a bank will consider loaning me the money to buy another home?
it will destroy it, it will be a charge off on your credit, bansk will lend you after 2 years as an FHA loan
Are there any banks that give mortgage loans to people with bad credit?
I am looking to buy my first home. My goal is to get to a 620 credit score but I know this will take quite some time. I was wondering if there are banks out there that give you loans to buy a home if you have bad credit or if there are programs out there that help you fix your credit to get into your first home? My best credit score of the three credit agencies is 550. The worst is 490. Please help!
Short of having at least 20% down and paying closing costs and mortgage insurance and over 8% interest, or finding a house you can afford to pay all cash for, I don’t see it happening. I’d work on your credit and wait. I’m sorry to tell you that, I’m in the same boat and working two jobs and the goal for me is to either put as much down as possible or buy outright. You could try FHA loans and they might work with you, but I’d concentrate on getting as much down as possible or if you can, save till you can do it all cash.
Sorry to sound harsh, cold and cruel, but life often is and I’m just telling you the truth.
Is it better to get a home loan modification or to refinance?
It depends on your specific situation.
Re-fi is a great way to get some extra money from the equity you have in your home, equity being the key component.
Unfortunately many are upside down in their mortgages, with the huge decline in home/property values, so ineligible for a Re-fi, but because of the predatory lending and immoral lending practices that had become common place in the real-estate boom, banks are now realizing it will be less costly in the end to avoid foreclosure, keep honest, hardworking home-owners in their homes by loan modification. If you couldn’t afford the house to begin with, neither one is going to save you at this point BUT if because of some unforeseen emergency, (illness, death, job loss etc,) or unscrupulous banking practices you are going under but have done all that was possible to retain your home and pay your bills, you may just find a helping hand.
Can I get approved for the new Obama loan modification program while my house is listed for sale?
I will be applying for a wells fargo loan modification. I switched jobs about a year ago and make significantly less than when I purchased the home. Currently my monthly mortgage payment is much more than 31% of my gross income. Will I be denied because my house is listed for sale. The house is not in foreclosure. I know the question: "Is your house listed for sale or do you intend to sale your home?" is specifically asked in the wells fargo questionaire. What should I do?
You can’t lie. Your house is for sale. If you apply for the refi and a buyer comes along you are screwed.
With a refi your principle, property tax and homeowners insurance are not reduced. Just the interest and a longer term. You do not realize much savings. It only pays if the rate is 2 points.
Can I get a mortgage with bad credit rating?
Together me and my boyf earn £32000. We both have bad credit, and I have a loan of £212 a month, plus credit cards which large amounts. What is the best thing to do? We are considering part rent/part buy. All help appreciated
if you live near a bairstow eves estate agents go in to see them thye usually have mortgage advisors who dont charge you a fee they get their money from the mortgage company. they will be able to search thousands of different mortgages for you. don’t go to a high street bank if you have bad credit you won’t get a mortgage.
good luck and prepare for the stress!!! x
How can I get an auto loan with very bad credit?
I am in desparate need of a car loan. My car was stolen over the weekend and I need a car where I live. I have what most would consider Bad credit and need some advice on where to shop for a loan without paying an outrageous interest rate. The other problem is that I don’t want to apply for too many lenders because it lowers your credit score even more. Please help. Thanx!
Go to a dealer that advertises Special Finance. They will be able to help you. You will pay a high interest rate and have to put money down. But it can be done.
Do not go to a buy here pay here lot. They charge way to much for their cars and 90+% do not report to the credit bureaus so all of the payments you make do nothing to improve your credit.
I know, this is what I do for a living.
How do I write a 30 days notice for my tenant in order to short sale?
I am planning to short sale my home in order to avoid foreclosure. I need to inform my tenants and perfer them move out during the sale.
Do you have written lease with tenants? If so, lease survives your short sale. If tenants are month to month, then give them 30 days notice of termination of tenancy. No reasons needed, just 30 days advance notice, in advance of date rent due. . . .notice now, means occupancy ends at end of November.
