We have a home already,but we are paying a high mortgage payment, the loan balance is high but the home lost its' value as usual,after a long waiting period, the Lender modified the loan, but not better than what was the original loan payment, only $100 less, they never cut from principal, they are not willing to do anything better, our credits( I and wife) are bad, owe a lot credit cards debt,can't pay because of high mortgage payment,
We plan to downsize to cheaper house for lower mortgage payment,can we get a loan to buy another house if in case if we want walk away from current home ? we both have full time secured jobs of over fifteen years, in this circumstances, do mortgage lenders consider our jobs and income despite our bad credits ? thanks for your opinions,
We plan to downsize to cheaper house for lower mortgage payment,can we get a loan to buy another house if in case if we want walk away from current home ? we both have full time secured jobs of over fifteen years, in this circumstances, do mortgage lenders consider our jobs and income despite our bad credits ? thanks for your opinions,