can i still get a loan if i have bad credit or court judgments against me?

Asked by Yadaska Nichols, Ashland, OR Sat Jun 16, 2012

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Sandy Moyers, Mortgage Broker Or Lender, Ashland, OR
Thu Jan 16, 2014
Hi Yadaska,

I would welcome the opportunity to explore your loan options with you. If your current credit scores or judgments prohibit a mortgage loan today, we can discuss strategies for improving your eligibility for different loan types in the near future.
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Jake Gander, Agent, Portland, OR
Tue Jun 19, 2012
Your best bet would be to contact a local mortgage broker. They will be able to tell you what you qualify for or if you don't qualify, what you need to do to qualify.
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Corri Klebaum, Mortgage Broker Or Lender, Clackamas, OR
Sun Jun 17, 2012
Most lenders will lend down to a 620 mid score but will require that any collections and/or judgments be paid. If you are a Veteran your debts can be paid by the seller if you agree to the concessions with a VA Loan. Many lenders out ther are happy to do a free review and get you on the right track towards home ownership.
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Carla Muss-J…, , Portland, OR
Sat Jun 16, 2012
Probably not.

If you're asking if you can get loan, is that a loan to buy a house or buy a car or get a credit card? You don't specify. If it's for a home loan/mortgage . . . it's not easy these days and the lender guidelines are tight. If you have bad credit and court judgments -- plural? -- yeah, good luck with that. Do you think you're a good credit risk? While credit can be repaired over time, unless you clean up the judgments no one, even hard money lenders, are going to loan money to someone with court judgments. That's a lien waiting to happen.
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Lana Lavenba…, Agent, Grants Pass, OR
Sat Jun 16, 2012
Most likely only a hard money loan if the lenders will even do that. They are individuals with money that allow a lender to loan out their funds but at quite a higher interest rate. BUT they also want to have some feeling of being paid back so they will need to know what kind of judgements,etc to decide whether or not even they will loan.
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