Posts Tagged ‘credit problems’
Late Mortgage Payments and Qualifying For A Loan
February 1st, 2010 | 
Author: In a continuing effort to answer questions that effect many people that come into our website, I have picked out a new one. This question has to do with qualifying for a mortgage loan when you have had late payments on your mortgage in the past two years. Even though this question is from a different geographical area, I think it will probably concern people in the Eugene/Springfield, Lane County, Oregon.
Help Me Understand The New Mortgage Rules. Why Is It So Hard To Get A Loan?
We have tried to get a loan and have been turned down by fha, freddie mac and local banks,and the reason is that we were late on our old mortgage several times over the last 2 years after i lost my job.That i understand but what i cant understand is that was for a 1500.00 a month payment and our new loan will be around 300.00.We have 100,000 in cash from the sale of our home and are looking at homes outside the charlotte area for about 140,000 to 160,000 and can not find anyone to give us a loan.We have no car payments no credit card debt and my wife makes 48,000+ a year and a fica score of 585…. any body have a answer or know a mortgage person that can help?we have already went thru 3 brokers…HELP Read More
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