Posted on: 07th Mar, 2010 07:04 pm
I live in Texas and I have a lawsuit against me in personal law suit against me in New Mexico from when I use to live there. I am applying for a home loan here in Texas and know that Texas has the homstead law that protects your home. I want to know if I will be able to get a home loan approval with the law suit. I havent heard anything from them since I have moved here from New Mexico 2 years ago Thanks for any help you might have
Hi jkerrou,
What was that lawsuit for? Was it a foreclosure lawsuit or a lawsuit for deficiency judgment? The lender will only check if you have good credit and if you can afford the mortgage payments. If the lawsuit has nothing to do with the mortgage, you should not have any problem in getting approved for the mortgage. Moreover, it has been 2 years since the lawsuit was filed against you. So, the lenders might not have a problem with it as long as you meet the other eligibility criteria for the home loan.
What was that lawsuit for? Was it a foreclosure lawsuit or a lawsuit for deficiency judgment? The lender will only check if you have good credit and if you can afford the mortgage payments. If the lawsuit has nothing to do with the mortgage, you should not have any problem in getting approved for the mortgage. Moreover, it has been 2 years since the lawsuit was filed against you. So, the lenders might not have a problem with it as long as you meet the other eligibility criteria for the home loan.