Home Buying in 92583>Question Details

shaunas203, Home Buyer in 92583

Will I qualify for a home loan after 120 day late is over 1 year old?

Asked by shaunas203, 92583 Fri Apr 25, 2014

I was working with B of A on a loan modification because my husband was out of work and we started falling behind. I started making trial payments, my monthly was being reported as late every month I made the trial payment. After about 8 months or so of jumping through hoops I finally had enough and decided to bring our loan current since my husband had started working again. A few of the payments were reported as 120 days late. They will not remove them from my credit report. I am concerned because I was told the banks look at 120 day lates as a foreclosure. All of the late payments will be over 1 year old as of August. Will I be able to qualify for another home loan? My credit score is still in the mid 700's. Thank you for your insight.

Help the community by answering this question:


I suggest you have a face to face meeting with a lender so that they can look at your entire situation. There are other factors that play into loan approval. Your debt to income, other payments, down payment, equity, etc.
0 votes Thank Flag Link Fri Apr 25, 2014
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