Does anyone know where on earth i can seize a mortgage i hold a liquidation on my credit from 5 yrs ago? ?
Answers:
Good luck getting a mortgage now. Haven't you be watching the news? With banks adjectives in turmoil and the lending industry on the skids, single the people with the best credit will be getting loans. You better enjoy one hell of a downpayment or have alot to put in a secured article to cover at least the first year's payments that you will not be able to touch contained by case of default, it will freshly sit there earning interest until it is needed or the house is compensated off.
You can bring back a mortgage from a mortgage company if you have 25% down or more. If you are a veteran, you can get one through the Federal Government at a lessen interest rate. Also, many people can't provide their houses so you may attract a seller that is ready to sign a land contract with you. That means of access you can re-establish your credit by making payments to the seller and build some equity over a few years. Then, go to a ridge with your payment annals and ask the bank for a re-finance.
Mortgages are concrete to come by for people with right credit. For those who have declared bankruptcy? Good luck.
Go talk to a mortgage lender or a mortgage broker.
Given the current economic situation....odds are you can't. Currently, empire with good credit ratings should hold no problem getting a mortgage. If your credit is not good....completely different story.
There was a time when anyone could grasp a mortgage for way more than they could afford.
But unless you have 20% (or substantial down payment) I doubt you could very soon.
But it does not cost you anything to talk to a mortgage broker.
Hope for the best....but be ready for the worst.
Good luck.
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