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How does a private mortgage holder enter a favorable report on the mortgagee's credit?
Wiki User
∙ 18y ago
A private mortgage holder normally does not belong to a credit bureau; therefore, can not report credit activity to a credit bureau..
Wiki User
∙ 18y ago
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Your credit report show your second mortgage being included in your bankruptcy you never re-affirmed the second mortgage do you still have to pay it?
Never get a second mortgage --- only if you want to keep your house. 2nd mortgagees can foreclose on you
Does it hurt your credit to take out a second mortgage?
Taking out a second mortgage can affect your credit score, but it depends on how much of your available credit you are using. Like with a credit card, people who are closer to their borrowing limit are less favorable to banks than people with a lot of credit available.
What are the requirements to get a mortgage on a house?
The requirements to get a mortgage on a house are generally these. At least one of the potential mortgagees should be in full time employment or some other regular, reliable means of income. They should have a deposit saved which will cover a percentage of the value of the house -the percentage depends on how much the mortgage lender requires, and they should be credit worthy. To ascertain this it may be worth while asking for a credit report from one of the credit companies.
How do you get a private lender to report favorable credit?
Ask them to report your payment history to the three bureaus.
How can one get a mortgage if they have bad credit?
There are many mortgage alternatives such as leases, though a person may be able to co-sign on a mortgage with someone with excellent credit. Many times, private lenders will offer a mortgage to someone with bad credit. There can also be social programs that offer resources to low income families.
What are the benefits of getting a private mortgage?
The benefits of an private mortgage are that in some cases you need provide fewer documents when applying and private lenders normally only look an persons credit score to determining if to lend or not based on how your handled your previous repayments to previous loans.
Where can one get more information on conventional mortgage?
Refinancing information can be obtained from a mortgage lender. A bank, credit union, or private lender can help with information about these specific types of mortgages.
Can a home equity line of credit be used to pay down the principle and remove private mortgage insurance on a first mortgage?
Yes, assuming you have enough equity in the home to get a line of credit. But, if you had enough equity there should not be any PMI. 4lifeguild
How can one learn more about a lender's credit source?
One can learn more about a lender's credit source from websites such as Buzzle, Private Mortgage Lending and Private Money Lenders UK. One can also learn about it from Private Loan Lender website and Yahoo website.
How can I get a mortgage with bad credit?
It is very difficult to get a mortgage with bad credit. You will probably first have to raise your credit score.
What effect does a credit score have on a mortgage?
The credit score can effect mortgage rates in a lot of differnt ways. If someone has a high credit score he get a lower mortgage rate and if someone has a low credit score he gets a higher mortgage rate.
Where can a person go to get information on mortgage lenders for bad credit?
There are a few websites where one can go to get information on mortgage lenders for bad credit. Realtor have an article on how to get a mortgage with bad credit. The Bad Credit Whiz website has a list of the top 10 bad credit mortgage companies.
