will it be difficult for a perosn to purchase a house while they are in debt counselling?

Answer 1

Not too difficult for the right person. But there are other factors that go into purchasing a home such as FICO score, job tenure, rental history, and down payment, just to name a few.

I have refinanced several people that are in debt counseling, and as long as the other terms are met, there is no problem. And my own mother, who is in debt counseling, purchased a home just a little over a year ago and got a great interest rate.

If you'd like to go over your options, or have any more questions, email me, or check out our website.

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Answer 2

I'd think so. You're in debt counselling for a reason, perhaps because you're in debt.

You'd find it hard to get a loan to purchase a house or to come up with the down payment and fees.

Answer 3

It depends on that person's credit score. They could go to myfico.com to obtain a score for all three reports and then call loan companies to see if the score makes the cut (along with debt to income that is).

Answer 4

Well, if you are in significant debt, it would certainly be difficult to afford a house.

The real question is, how do you expect to pay for the house, given that you are in debt?

Answer 5

i understand in California in case you may sell your place and income seventy 5,000 they wont enable you record financial disaster. so it incredibly is incredibly useful to envision your state rules and notice what they say. in case you touch a style of debt counseling places they're going to require you to cancel all your credit playing cards that way you cant purely fee them up returned. in case you have different costs than credit playing cards attempt to get them to understand your concern and make small funds to them some funds is extra constructive than no funds. i'm hoping your condition gets extra constructive.

Answer 6

YES. Talk with an experienced Loan Officer before you do anything so you can map out a game plan.