Posted on: 01st Nov, 2010 03:42 pm
we need a mortgage and are told if you have had a deed in lieu you have to wait for 2 years. how can the mortgage company find out if you have had one.
hi harpel!
welcome to forums!
it is true that if you had a deed in lieu of foreclosure, you'll have to wait for 2-3 years in order to get a mortgage. if your previous property was sold off by the lender through a deed in lieu of foreclosure, it'll be mentioned in your credit report. when the lender pulls your credit report to check your credit score, he will be able to come to know about it.
feel free to ask if you've further queries.
sussane
welcome to forums!
it is true that if you had a deed in lieu of foreclosure, you'll have to wait for 2-3 years in order to get a mortgage. if your previous property was sold off by the lender through a deed in lieu of foreclosure, it'll be mentioned in your credit report. when the lender pulls your credit report to check your credit score, he will be able to come to know about it.
feel free to ask if you've further queries.
sussane