Posted on: 31st Jul, 2009 06:14 pm
my father passed and left the house to me with a mortgage. My credit is not the greatest. Will I be able to keep the family home?
hi guest,
if your credit is not the greatest, you will not be able to refinance the loan in your name. but as long as keep making the payments on time, you can keep your family house. the lender will not foreclose on the house, provided they get their payments on time.
if your credit is not the greatest, you will not be able to refinance the loan in your name. but as long as keep making the payments on time, you can keep your family house. the lender will not foreclose on the house, provided they get their payments on time.
first of all, get property tranferred into your name by submitting death certificate along with affidevit of heirship.
also continue to pay mortgage without fail & try to improve your credit score as fast as possible.
also continue to pay mortgage without fail & try to improve your credit score as fast as possible.
William I am nto sure how our guest can transfer the loan to his/her name wiht out a good credit
Guest,
You need need to consult the bank and see what optiosn do they have?
Guest,
You need need to consult the bank and see what optiosn do they have?
Guest,
When you say your credit is not good, that does not give us any idea what it is today
So if you have score above 620 you can probably qualify for a FHA loan.
Good luck and feel free to ask
When you say your credit is not good, that does not give us any idea what it is today
So if you have score above 620 you can probably qualify for a FHA loan.
Good luck and feel free to ask