Profile picture for user0603593

New Home Loan after Mortgage Modification

I have  a debt to credit ratio on modification of 110%.  I want to purchase a home and have what are considered good credit scores?  Will it be possible to qualify.
  • October 18 2012 - Atlanta
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Answers (2)

Profile picture for JPyszChicago
Lenders will finance you after 12 months since your modification was finalized. Given everything else with your credit and income is fine.
  • October 18 2012
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Hey - Congrats on a successful mortgage mod. Those can be tough. Most regular lenders won't be able to lend if they are backed by FHA, Fannie, Freddie, etc. But, if you go to a smaller bank you might be able to work something out.  They have their own money to lend, and don't always use exactly the same standards if they plan on holding on to your mortgage for the life of loan.  Also I work with investors and have connections with multiple sources that can work with you regardless of mortgage mods.  Send me a message if you need help. 
  • October 18 2012
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