• ¡Welcome to Lending Network!
  • America's Fastest Growing Loan Scenario Online Forum
Hello There, Guest! Login RegisterLogin with Google+


Welcome to Lending Network! America's Number One Loan Scenario Help Center For The Public Join Our Lending Network Online Community Forum And Ask Your Loan Case Scenarios To Our Moderators & Real Estate Professionals.
It takes seconds to become a member. Lending Network was created and launched as a mortgage, real estate, and credit information center for the general public to utilize it as a loan scenario help desk online community forum.

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Purchasing A Home With Public Records
#1
Good morning Mr. Gustan Cho of The Gustan Cho Team at CrossCountry Mortgage

Gustan Cho,

I really want to apply for FHA loan but i have 2 public records that i had been sued from CASH LLC company since 2011,2012. can i still get approval from FHA loan?

thanks

Borrower needing a FHA Loan with judgment on credit
Gustan Cho, NMLS 873293
Area Manager
The Gustan Cho Team at CrossCountry Mortgage Inc. NMLS 3029
address: 425 North Martingale Road Suite 1280, Schaumburg, IL, 60173
Website https://www.gustancho.com
Direct 800.900.8569
Email gcho@gustancho.com
Facebook: https://www.facebook.com/TheGustanChoTeam/
Google+: https://plus.google.com/+GustanChoLoans
Twitter: https://twitter.com/gustancho
LinkedIn: https://www.linkedin.com/in/gustan-cho/

 
Reply
#2
You can qualify for a FHA Loan with outstanding judgments but the judgment needs to be addressed as follows:
  • Need a written payment plan with the judgment creditor
  • There needs to be a three month's payment history and you need to provide three months worth of canceled checks
  • You can pay the judgment before or at closing and the title company can record it
  • You can negotiate the judgment for a lesser amount than the face value and get a letter that the judgment has been satisfied and we can do a rapid rescore and make sure that your credit report reflects that the public records have been satisfied.
Gustan Cho NMLS 873293
Gustan Cho, NMLS 873293
Area Manager
The Gustan Cho Team at CrossCountry Mortgage Inc. NMLS 3029
address: 425 North Martingale Road Suite 1280, Schaumburg, IL, 60173
Website https://www.gustancho.com
Direct 800.900.8569
Email gcho@gustancho.com
Facebook: https://www.facebook.com/TheGustanChoTeam/
Google+: https://plus.google.com/+GustanChoLoans
Twitter: https://twitter.com/gustancho
LinkedIn: https://www.linkedin.com/in/gustan-cho/

 
Reply
  


Forum Jump:


Browsing: 1 Guest(s)