Posts Tagged ‘Mortgage’
Will I be able to get a home equity loan if I am currently in a forebearance agreement with my mortgage?
D G asked:
We will be listed as entering foreclosure until September, but have already made 5 consecutive payments into the forebearance plan, including a large down payment. However, in order to get our finances in order and pay education costs, we need to take out a home equity loan. Will lenders approve the loan (if we have one great credit score, one bad, and a good income) in our current state? Or would it be rejected outright?
We will be listed as entering foreclosure until September, but have already made 5 consecutive payments into the forebearance plan, including a large down payment. However, in order to get our finances in order and pay education costs, we need to take out a home equity loan. Will lenders approve the loan (if we have one great credit score, one bad, and a good income) in our current state? Or would it be rejected outright?
Will my bad credit affect my boyfriends good credit if we get married?
Chelsea B asked:
I have HORRIBLE credit, and my boyfriend has near perfect credit. He owns our home, and vehicle, has a few credit cards, as well as a decent amount in savings. And I’m wondering if we get married will my bad credit will bring his credit score down? If we were to sell the house and try to purchase a new one after being married, would we be able to put the house in his name only and do this without involving my credit. I have no problem not being on the deed or mortgage, I just don’t want my past mistakes to ruin what he has worked so hard for.
I have HORRIBLE credit, and my boyfriend has near perfect credit. He owns our home, and vehicle, has a few credit cards, as well as a decent amount in savings. And I’m wondering if we get married will my bad credit will bring his credit score down? If we were to sell the house and try to purchase a new one after being married, would we be able to put the house in his name only and do this without involving my credit. I have no problem not being on the deed or mortgage, I just don’t want my past mistakes to ruin what he has worked so hard for.



