Profile picture for Micmuse

Starting over

I've modified my loans but no longer care for the area I'm in.  I know selling would be a hassel and was considering renting.  I have paid all my outstanding bills and only have mortgages.  With scores between 550 and 640 what are my chances to purchase another home. 
  • July 26 2010 - Capitol Heights
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Answers (6)

Profile picture for Debbie Holmes
You need to work on your credit then get the loan.... 
  • July 28 2010
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No so good...sorry to say
  • July 28 2010
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Your chances are slim to none. Think about renting for several years in an area that you wish to establish roots. .... Happy funding, Rudi
  • July 27 2010
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Talk to your lender about both your credit scores and your income to debt ratios.
  • July 27 2010
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Profile picture for Micmuse
I would like a referral!  Thank you so much!
  • July 26 2010
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Your best bet is to speak with a reputable lender who can 'run the numbers' for you.  Because there are so many variables when it comes to purchasing a new home versus renting, the lender is a great place to start.  If you would like a lender referral, please let me know.
  • July 26 2010
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