Don’t know if my credits good enough for a home consolidation loan. Is there anything else I can do?
I have lived with my mother for the last 15 years of her life, before she died she left me the property but also a large lean on the house, I would like to roll all of my bills and the funeral cost into the loan as well, if I don’t I don’t think ill be able to keep it and I would hate to lose the place, as my credit has taken a small hit after the last two years so I’m not sure if the bank will give me a consolidation lone. Are there any other options out there? Or anyone I could talk to get things straightened out? Any help or ideas would be helpful; I really don’t know what to do next. Thank you.
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Can you rent a room (student, senior, worker.... depending on your age and interests) ?
I'd try to go to the bank and explain my case. If there's a mortgage on the house, you may refinance, or ask for a mortgage.
It's a good idea to bring a friend/relative who has good knowledge in finance/credit.
Good luck !
OK, you need to talk with a mortgage banker or broker. I am a mortgage banker, however I don't know what state you are in. So find a good reputable mortgage professional and let them run your credit and establish your debt to income ratio and to see if you have enough equity, to see what you will qualify for. Even if your credit took a small hit, there still maybe many options available for you. I would be Very careful of any one you find on this site or on the web in general. Ask a friend or family member for a referral or just go to your local bank. Good Luck and Sorry about your loss!
If the house is worth more than is owed on it and it has cleared probate then you should be able to get a loan of the difference of what's owed to what it is worth. If you fail to make the payments they will just take the house.
Check your credit score at this web site before you go to the bank. That way you will know what they are talking about if they try to give you a high loan %. It's free
https://www.annualcreditreport.com/cra/index.jsp