Posted on: 26th Jul, 2009 02:06 am
My aunt is dying from cancer and today she told me that she wanted me to have her house. The house is not yet paid for and still has at list 10 years left on a thirty year mortgage. What needs to happen next and do I really need excellent credit to take over the mortgage eventhough I inheritted the house.
we are very sad to know about your aunt.
you should be capable enough to pay the mortgage for another 10 days they will check your credit score, debt to income ratio.
if you are facing any problem , you can apply for obama mortgage plan as it is designed in such a way that your debt to income ratio should not be more than 31
you should be capable enough to pay the mortgage for another 10 days they will check your credit score, debt to income ratio.
if you are facing any problem , you can apply for obama mortgage plan as it is designed in such a way that your debt to income ratio should not be more than 31
richbird1
Lot more depend on your credit score and your employment status.but again if your aunt is assigning the home on your name then only take the load of mortgage....
keep in touch.....
:arrow: :arrow: :arrow:
Lot more depend on your credit score and your employment status.but again if your aunt is assigning the home on your name then only take the load of mortgage....
keep in touch.....
:arrow: :arrow: :arrow:
excellent isn't a bad idea at any time, rich, but in my opinion, you'd probably get by with "good" credit. are you speaking of assuming the existing loan, or trying to obtain a new loan of your own? an assumption will be a quicker method, and probably a much cheaper alternative. speak with your aunt's lender to see what they suggest and what they might be able to do for you.
