Home Buying in 36854>Question Details

Marilyn, Both Buyer and Seller in Valley, AL

Own a home

Asked by Marilyn, Valley, AL Sat Oct 8, 2011

I own a home that I havent lived in in a year I am leasing it out I live in an apt that I have paid on yime for 11 mths I have a very low credit score because I have some late payments on my mortgage but everything is paid up I only have 3 items on my credit report and they all report negative on my credit report but I do all 3 other tradeline thats not being reported on my credit report...I have 2 questions....Will my home that Im leasing out be counted its a conventional loan and Im going for a fha loan alsowill my 3 credit tradelines that perfect credit not on my credit report will they be considered for my new mortgage....I am going to apply for a mortgage Monday...Wish me luck!!!!

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2
Don't bother applying for a mortgage, you will not be approved with 3 lates on your current mortgage. At this point you need to set up a budget which allows you to pay all your bills on time. Go to your local nonprofit housing group for budget help.
1 vote Thank Flag Link Sun Oct 9, 2011
Marilyn,
Talk to your lender. They will be able to answer these questions for you. If something doesn't show up on a credit report, it usually doesn't count towards your credit rating is the way I understand it. Good Luck.
0 votes Thank Flag Link Sat Oct 8, 2011
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