Can a first time homebuyer with a lot of unsecured debt get a home loan to also cover the debt?
Posted in Credit on 07/03/2010 06:46 am by
Andre asked:
I have 30k in credit card debt. I was wondering if I could consolidate that into a mortgage. I have never applied for a home loan before. Have people done this in the past?
Ellen
I have 30k in credit card debt. I was wondering if I could consolidate that into a mortgage. I have never applied for a home loan before. Have people done this in the past?
Ellen
07/03/2010 at 8:55 am
Earl
Only if you are buying a home for 39k less then what it is worth.
07/04/2010 at 10:21 am
Francisco
It is very difficult to get loans for over 100% of the value of the home. You dont mention your income, your credit score or your savings amounts. You need to talk to a mortgage professional in your area
07/05/2010 at 4:35 pm
Larry
Not the way to do it. The answer on having someone negotiate with credit card company was correct.
07/08/2010 at 1:41 pm
April
You must always be careful with credit cards, car loans, mortgages and debt consolidation. Persoanlly, I was in debt of over $100,000 at one point in time, roughly 4 years ago. I am proud to say I am now DEBT FREE. It is very confusing on what to pay first how to chop down your debt, but there is a lot of good content out there to help. I have also started my own blog to help people out by talking about what I think is important. Check it out sometime!
07/11/2010 at 12:40 am
Allison
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