Posted on: 09th Feb, 2010 05:12 am
Is it possible to get a mortgage with a repossesion? Long story short... I have a credit score of about 630 and a reposession that is only about 2 years old. I make about 85k a year.
Hi,
Lenders generally require a borrower to wait for at least 2 years after a repossession to qualify for a new mortgage. The waiting period could be even longer depending on what your credit scores are. A credit score of 620 is not bad at all. I suppose it's worth a try to apply for a new mortgage.
Lenders generally require a borrower to wait for at least 2 years after a repossession to qualify for a new mortgage. The waiting period could be even longer depending on what your credit scores are. A credit score of 620 is not bad at all. I suppose it's worth a try to apply for a new mortgage.