Posted on: 14th Jun, 2009 12:57 pm
Good Afternoon, My wife and I have lived in this house about 12 years and have made all payment, taxes and insurance. It is financed in our sons name and the house is deeded in her name now. She has a old state lien that is over the 10 year statute of limitations time and the state says by law the can't and won't do anything. Her FICO scores are all over 700 each. Is there a decent Mortgage company that we can get to finance the home in her name even though we can't get the state to release the expired liens. The house is worth about $240000 and we need to finance only about $120000.
Thanks
Thanks
I would suggest getting in touch with a local lender to explore all of your options.
hi drcwwhite,
based on the facts you have presented, it looks like your wife has a good chance of qualifying for a loan to refinance the property in her name. her credit score is quite good. the state lien, as it is past the statute of limitation period, should not pose any problem in getting the loan. however, if the lien still shows on her credit, she can write a letter to the credit agencies and ask them to remove it from the report as it is no longer valid.
i think any of your local lenders should be able to help your wife with a loan. you can also go for a no-obligation free mortgage consultation with the community lenders. they will check your wife's credit score, income, debt to income ratio etc. if she qualifies, they will get in touch with her and offer her free mortgage quotes. she can then weigh her options and choose the loan that offers the best rate and terms.
based on the facts you have presented, it looks like your wife has a good chance of qualifying for a loan to refinance the property in her name. her credit score is quite good. the state lien, as it is past the statute of limitation period, should not pose any problem in getting the loan. however, if the lien still shows on her credit, she can write a letter to the credit agencies and ask them to remove it from the report as it is no longer valid.
i think any of your local lenders should be able to help your wife with a loan. you can also go for a no-obligation free mortgage consultation with the community lenders. they will check your wife's credit score, income, debt to income ratio etc. if she qualifies, they will get in touch with her and offer her free mortgage quotes. she can then weigh her options and choose the loan that offers the best rate and terms.
There are quite a few qualified loan professionals on this site who would be happy to help you.
Dream7 is on point. What State are you in? Just don't allow your credit to be pulled numerous of times. They say it doesn't affect your score but I'm a witness that it does.