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It is up to each mortgage company to determine a person's credit worthiness and likelihood to pay a mortgage loan. Mortgage companies may not approve loans if there are derogatory credit items on a person's report, but this decision is often based on many factors. A judgment will appear on your credit reportfor seven years from the filing date.
Wiki User
∙ 10y ago
Wiki User
∙ 10y agoIt is up to each mortgage company to determine a person's creditworthiness and likelihood to pay a mortgage loan. Mortgage companies may not approve loans if there are derogatory credit items on a person's report, but this decision is often based on many factors. A judgment will appear on your credit report for seven years from the filing date.
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Can you get a home depot project loan with a credit score of 620?
It is possible to get a Home Depot project loan with a credit score of 620. Home Depot will pull a credit report to determine eligibility of a credit loan.
How can you report non-payment of a contracted personal loan to the credit bureaus?
You will need to get a judgment in court for the bureaus to even begin to possibly care.
How can you get a loan with a charge-off on your credit report?
An FHA loan would require that any outstanding collection accounts, judgment[s] and charge-offs be paid off in full before closhing your loan but not necessarily before approving your loan. The lender will look mostly at the last two years of your credit history.
If you include your house in a bankruptcy chapter 7 how will this show on your credit report Will it show included in bankruptcy or as a separate foreclosure?
If your home loan is included in your bankruptcy, the code describing your repayment behavior on your credit report for this loan will change. If the bank forecloses on your home, the code describing your repayment behavior on your credit report for this loan will change. The loan will have one coded description of your repayment behavior. Credit Agencies only care about your repayment habits, not which mechanism cost you your home. There is no separate report. Your credit is going to be BAD for many years. Whether the house was part of the bankruptcy or whether it was taken in a foreclosure action will not matter (it's not like one is better than the other).
Does cosigning a loan go on your credit report if the loan is in good standing?
Your cosigner's credit report should also reflect the loan. In this case, it should show as paid on time as agreed.
Can you get a home depot project loan with a credit score of 620?
It is possible to get a Home Depot project loan with a credit score of 620. Home Depot will pull a credit report to determine eligibility of a credit loan.
What happens after a entry judgment is granted?
That pretty much depends upon how much the judgment is for. usually, if the judgment amount is small, then nothing happens except that you have a really negative mark on your credit report. If you attempt a purchase a home, the mortgage lender will force you to pay off the judgment before they will extend a mortgage loan to you. The judgment will appear on your credit report for a very long time and will negatively impact your credit score. If the judgment is for a relatively large amount of money, the creditor will most likely seek to garnish your earnings or attach monies in your bank accounts.
How can you report non-payment of a contracted personal loan to the credit bureaus?
You will need to get a judgment in court for the bureaus to even begin to possibly care.
is there a way to get a home loan and add whatever i have credit report to it ?
You are probably looking for a home equity loan, please check out www.ditech.com, which advertises very heavily on TV, for this.
How can you get a loan with a charge-off on your credit report?
An FHA loan would require that any outstanding collection accounts, judgment[s] and charge-offs be paid off in full before closhing your loan but not necessarily before approving your loan. The lender will look mostly at the last two years of your credit history.
Know Your Credit Score When Applying for a Mortgage?
Knowing your credit report credit score is the first step in securing a mortgage. When you are looking to buy your home, having a current, up-to-date copy of your credit report is essential in securing the best rates. By reviewing your credit report prior to applying for a mortgage, you will be prepared to clear up any past debts or errors on your credit report that could prevent you from getting a mortgage loan. Your loan officer will request a copy of your credit report credit score, so don't be taken by surprise when it comes time to apply for your loan.
If you include your house in a bankruptcy chapter 7 how will this show on your credit report Will it show included in bankruptcy or as a separate foreclosure?
If your home loan is included in your bankruptcy, the code describing your repayment behavior on your credit report for this loan will change. If the bank forecloses on your home, the code describing your repayment behavior on your credit report for this loan will change. The loan will have one coded description of your repayment behavior. Credit Agencies only care about your repayment habits, not which mechanism cost you your home. There is no separate report. Your credit is going to be BAD for many years. Whether the house was part of the bankruptcy or whether it was taken in a foreclosure action will not matter (it's not like one is better than the other).
Does cosigning a loan go on your credit report if the loan is in good standing?
Your cosigner's credit report should also reflect the loan. In this case, it should show as paid on time as agreed.
How hard is it to get a home loan with a charge off on your credit file?
You can get a home loan with negative items on your credit report. Provided that most items are paid off and those that aren't have payment agreements with the collection agency. As long as your credit isn't too terrible, you can in most cases receive a home loan. But, you will pay for it with a higher interest rate.
Does and outstanding credit card loan that hasn't been paid ruin your chance of co signing for a car loan?
If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.If you have a bad credit report from a loan in default a lender wouldn't want your guaranty that the primary borrower's loan will be paid by you if they default.
Where can I find a bad credit home loan?
You can find a bad credit home loan at homecredit.com
Does disputing items on your credit report when applying for a home loan stall the loan process?
The general rule for applying for a home loan is to dispute items a few months before you attempt preapproval. There is no stalling of the loan process - when receiving a credit report, the credit bureaus do not provide information concerning ongoing disputes - rather, they provide a snapshot of the credit report at the time of request. If one is planning to apply for a mortgage, dispute anything a few months earlier, pay down your credit card bills and, if possible, get money from family (even if just a "shadow loan") because all of those actions make you a better borrower for the bank.
