Posted on: 17th Jul, 2010 01:37 pm
I did a remodification over 16 months ago I'm upside down on mortgage can I qualify for new home loan? My property has 2 homes and one is my primary resident. My only debt is car payment and mortgage. My debt to income ratio is good.
You already have a home loan on one of your properties and you are unable to pay it off. In such a situation, it would be difficult for you to qualify for another mortgage. Nevertheless, you can contact your lender and apply for a loan and check out if he approves you for a mortgage.