Credit Help Forums

snobare · #1 08-31-2006, 01:31 PM

My husband and i are in need of getting a mortgage bad due to house that we are renting unlivable. We have a good amount of medical bills in collection that we didnt know about until recently. Is there any possible way we can still get a mortgage? And any certain company better to deal with?

poorgirl · #2 08-31-2006, 05:00 PM

It was unreal how easy it was to get a mortgage. It was so much more difficult to get a car loan. We had really bad credit. We had credit cards that we had not paid on in over a year. We had to pay one off, which we did immediatly and then we were financed. The whole process was quick. It took two weeks to find the house, get the mortgage, and close. YES, just two weeks. It was awsome, and the people who owned the house wanted out quick. It took one day to become approved with a loan company. The couriered all of the paper work over to our appartment. We never had to go anywhere. We called them out of the yellow pages and went with the company that offered us the lowest FIXED interest rate and insurance and taxes escrowed into the payments.

snobare · #3 09-02-2006, 07:04 AM

What type of mortgage company did you use? I am having a difficult time finding one.

ferby03 · #4 09-03-2006, 02:29 AM

Yes, it is easy to get a loan, just be sure that you are getting the lowest rate possible and a fixed rate, like poorgirl suggested. You can look through the phone book for local places, but I would look through the internet or your real estate broker for additional resources. You have to research in order to get the best rate. We had one company offer us almost 10% while we ended up getting 5.8% so it varies widely.

Avian · #5 09-03-2006, 01:35 PM

It really shouldn't be terribly hard to get a mortage, because its not like you could just run away with your house.

Raquelita · #6 09-15-2006, 09:12 AM

You can most likely get a mortgage, but it may be at a bad rate and it may not be in your best interest at this time if you don't have money for a down payment, closing costs, upkeep, moving, etc... Watch out for predatory lenders too - sometimes they extend mortgages to people with a high chance of falling into bankruptcy on purpose.

derdo · #7 05-09-2008, 03:45 AM

Yes!! Nice information that you have shared with us.
Thank you very much

rachael24 · #8 05-09-2008, 06:48 AM

Can you tell us what type of company you applied with?

alizee · #9 06-03-2008, 04:31 AM

There are lot of ways to ones problems and you can solve them easily one you have better suggestions ….like the ones above…keep going mate ;-)

the hank freid · #10 06-04-2008, 10:36 PM

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