All Posts Tagged With: "exception"
Can Mortgage Lenders Ignore My Monthly Auto Costs?
Question: Is there any way that auto payments will not reduce my ability to qualify for a loan? Answer: Yes. You MUST tell lenders about all outstanding debt and payments. In the case of an auto loan or other installment debt, some loan programs will not count the debt against qualifying ratios if there are [...]
31Aug2008 | Peter G. Miller | 0 comments | Continued
Can I get a mortgage after a foreclosure?
Would you give someone a home loan soon after they were foreclosed? Not likely, and lenders feel the same way. In practice, after a foreclosure lenders will typically refuse further financing for two to five years under guidelines established in June 2008 by Fannie Mae. In the usual case expect to wait five years. In [...]
26Aug2008 | Peter G. Miller | 0 comments | Continued
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