 | Are there any lenders who will combine my debt and give me a new home loan? Really bad credit from 8 years ago |
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Question: Are there any lenders who will combine my debt and give me a new home loan? Really bad credit from 8 years agoI got into a hole about 8 years ago with my credit and now I'm trying to buy a house.I got into a hole about 8 years ago with my credit and now I'm trying to buy a house. (less than 70,000) But my credit is a huge factor and I cant find any lenders that will work with me. My debt is about 20,000. I have a car loan now with a co-signer and payments are never late. Any info would be greatly appreciated.
Answer: -There are lenders out there that will combine your debt with your new mortgage. However, the equity in the home must cover the debt you want to include.For example, if you buy the home for $70,000 and its worth $80,000, the bank may be able to include $10,000 of other debt into the loan.Your best bet would to talk to a mortgage broker to see what they can do for you. -Yes, you may get a loan. Have seen lots of people asking info on bad credits. Well, if you need to get yourarrange loans or other finance, and usually means you will pay more interest on any loan you take out.
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