Posted on: 19th Jun, 2009 04:20 pm
After 15+ years of having a credit rating score between 790 to 805, I have fallen on very hard times. I sold a business to a fellow who turned out to be a skunk, he hasn't paid me as promised, and I have been unemployed for 11 months. I have been living out of my dwindling 401K, and while I am not now (nor ever have been!) behind on my car, house, electricity, etc, I do have over $45K in credit card debt associated with the former business - I was the guarentor - not the business.
a) Can creditors place a lein on my home here in Collin County Texas?
b) We have $200k-$230K of equity in our house and want to sell, --- but knowing my credit rating is now in the 550-600 range, will I be able to put down $200K on a house and get a $20k to $50K loan or will I be considered non-fundable?
This is a huge mess... this guy has really got me screwed up... and now I can't locate him to pursue him for what he owes me.... drat! How could I have been so stupid!!!
a) Can creditors place a lein on my home here in Collin County Texas?
b) We have $200k-$230K of equity in our house and want to sell, --- but knowing my credit rating is now in the 550-600 range, will I be able to put down $200K on a house and get a $20k to $50K loan or will I be considered non-fundable?
This is a huge mess... this guy has really got me screwed up... and now I can't locate him to pursue him for what he owes me.... drat! How could I have been so stupid!!!
With a very large down payment, you can still find a lender who will work with you.