If I get a consolidation loan will it help or hinder me getting a home loan for a first time buyer?
Home Mortgage
Candy W asked:
We have poor credit and trying to repair it; however we want to purchase a home by the end of the year. Will it adversely affect my chances of getting a home loan if we take out a consolidation loan to kick start the credit pay offs?
So if I can not get a loan, how do I pay off $7000 of dept in less than one year?
Christian
We have poor credit and trying to repair it; however we want to purchase a home by the end of the year. Will it adversely affect my chances of getting a home loan if we take out a consolidation loan to kick start the credit pay offs?
So if I can not get a loan, how do I pay off $7000 of dept in less than one year?
Christian
March 22nd, 2009 at 6:15 pm
Diane
You probably will not qualify at the end of the year unless you pay off all your debts in full. Can you even qualify for a consolidation loan? Doubtful and PLEASE do not respond to these idiot SPAMMERS who come here just to sucker people in trouble, such as yourself, into givinging money up front for anything!
March 25th, 2009 at 9:25 am
Christopher
Forgit about the home mortage. Get 2 or 3 jobs and pay off your bad debts. A consoldation will contribute to the debt that is already owed…. You only owe $7000 but the fact that you are a hi risk to pay the mortage — means no loan.