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Can you obtain a home loan with a repossession on your credit report?
Wiki User
∙ 17y ago
Absolutely, but poor credit scores result in higher interest rates because lenders of money consider you a bad risk. Once every twelve months you can get a free report on your credit from annual credit report .com : https://www.annualcreditreport.com/cra/index.jsp A gentleman who hosts a syndicated radio program from Atlanta, GA named Clark Howard has excellent resources at a link I will post here.
Wiki User
∙ 17y ago
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How does reposession affect obtaining a home loan?
A repossession ruins your credit for 7 years. This will have an adverse effect on any loan you may try to obtain.
Does Home Depot report business credit to credit bureau?
does home depot report to credit bureaus? I am trying to rebuild my credit.
What may a creditor do if you fail to pay credit card debt?
They can do a number of things: Take you to court and obtain a judgement. Once they have that they can garnish wages or confiscate property to obtain their money. Make a negative entry into your credit report, making it more difficult for you to obtain credit for additional credit cards as well as home and auto loans.
Can you get a home depot project loan with a credit score of 620?
It is possible to get a Home Depot project loan with a credit score of 620. Home Depot will pull a credit report to determine eligibility of a credit loan.
How would I be able to obtain a home loan if my credit is bad?
You may be able to still buy a home. Why is your credit bad? Do you have a down payment?
How will voluntary repossession of my home in Texas affect my credit?
The effect on your credit will depend on how the lender chooses to report it to the credit bureau. Sometimes a lender will be willing to report it 'paid as agreed' or 'settled' entry on the credit report rather than an actual repossession. If it is reported as an actual repossession or foreclosure it will be on your credit for seven years and negatively effect your rating.
How long does an auto repossession and a home foreclosure after stay on your credit report?
NOTICE OF DROPPING PARTY DEFENDANT
How can one obtain a credit report form Equifax UK?
One can obtain a credit report from Equifax UK by ordering it on their website. One can choose between seeing the report on their website, or having it posted to one's home.
How does reposession affect obtaining a home loan?
A repossession ruins your credit for 7 years. This will have an adverse effect on any loan you may try to obtain.
What are the consequences of a voluntary repossession of a mobile home?
Under US law as I understand it, any repossession is detrimental to your credit record. Both a voluntary repossession or a standard repossession have the same effect on your credit rating. Both will appear as repossessions, and either will result in a negative mark on your credit history. Any repossession will appear on a credit report for 7.5 years from the date of first delinquency. You will likely see your credit score drop significantly, as having a repossession in your credit history marks you as a credit risk. The only advantage that I see in doing a 'voluntary' repossession is that it may cost you less in legal fees. In general, I would encourage you to work with the lender to find ways of keeping your home and coming to some kind of agreement on reduced monthly payments, or even weekly payments which will involve a lower interest rate. Good luck with it.
Does Home Depot report business credit to credit bureau?
does home depot report to credit bureaus? I am trying to rebuild my credit.
What may a creditor do if you fail to pay credit card debt?
They can do a number of things: Take you to court and obtain a judgement. Once they have that they can garnish wages or confiscate property to obtain their money. Make a negative entry into your credit report, making it more difficult for you to obtain credit for additional credit cards as well as home and auto loans.
Can you buy a home with bankruptcy on credit report?
NO
How do you obtain a home inspection report?
You need to hire a home inspector who will supply you with on when the inspection is completed.
Can you get a home depot project loan with a credit score of 620?
It is possible to get a Home Depot project loan with a credit score of 620. Home Depot will pull a credit report to determine eligibility of a credit loan.
How would I be able to obtain a home loan if my credit is bad?
You may be able to still buy a home. Why is your credit bad? Do you have a down payment?
How do you get a credit report without a credit card?
There are actually plenty of alternatives. You can buy a home, buy a car, even some home utulities services will do it depending on where you live. Typically, if they ask for you SSN, then it will most likely appear on you credit report.
