2007-03-08 07:24:39 · 4 answers · asked by justblue73 1 in Business & Finance ➔ Credit
Yes. There are special programs out there now for people who have had credit problems. Your intrest rate will probably be higher, but I would talk to a mortgage lender and ask them specifics about it.
2007-03-08 07:34:03 · answer #1 · answered by odd duck 6 · 0⤊ 0⤋
Yes, you can still buy a house even though there is a judgment on your credit report. There's no law against it.
But a judgment seriously lowers your credit score, and most, but not all, lenders won't touch you. You're too high a risk. You'll have to go to a sub-prime lender, who typically charges much higher rates. If you're capable of paying those rates, and are aware of the penalties if you fail, a sub-prime loan might work for you. With a few years of payment on time, every time, your score will rise, and you can refinance at a lower rate.
2007-03-08 15:38:03 · answer #2 · answered by VT 5 · 0⤊ 0⤋
I am assuming the judgement was for bankruptcy?? If so it depends on how much time has expired since your discharge of debts. Usually after 3 years if your credit has been built up a little and kept clean you can get a loan with a slightly higher rate. The longer the time since your discharge the better the rate you get.
2007-03-08 15:33:18 · answer #3 · answered by Dave 5 · 0⤊ 0⤋
Anything is possible, it just might not be very probable.
2007-03-08 15:32:44 · answer #4 · answered by parsonsel 6 · 0⤊ 0⤋