Posted on: 26th May, 2012 03:28 am
My father is purchasing a mobile home for me to live in. I currently have a civil claim judgement out on me for approx. $1,500.00 for a credit card. My question is, if I were to have the title of the mobile home put under my name could the credit card company and/or collection agency take the home or make me sell it to pay off the debt?
Hello borisgal,
Honestly, If you are concerned that your credit will stand in the way of owning a home, it might be a good idea to review your credit report and fix any outstanding problems.
Second is, the cleaner your credit, the better type of loan will be able to get. With a little effort, you can fix your credit so that you can obtain a mortgage loan with a decent interest rate. It may not take as long as you might think to improve your credit to the point where you can obtain the loan you want at a price you can afford.
:idea:
Honestly, If you are concerned that your credit will stand in the way of owning a home, it might be a good idea to review your credit report and fix any outstanding problems.
Second is, the cleaner your credit, the better type of loan will be able to get. With a little effort, you can fix your credit so that you can obtain a mortgage loan with a decent interest rate. It may not take as long as you might think to improve your credit to the point where you can obtain the loan you want at a price you can afford.
:idea:
Hi borisgal,
If a property is in your name, then the credit card company or a collection agency can file a lawsuit against you and get a judgment to place a lien on your property. They may force you to sell off the property in order to pay off the lien.
Thanks
If a property is in your name, then the credit card company or a collection agency can file a lawsuit against you and get a judgment to place a lien on your property. They may force you to sell off the property in order to pay off the lien.
Thanks
