I want to buy a home in the graham, NC area but, my credit score is 609 and I have an unpaid judgement also a vet large tax refund coming what to do

Asked by Ameera, Graham, NC Wed Jan 18, 2012

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Oakwood Homes…, Both Buyer And Seller, Burlington, NC
Thu Jun 28, 2012
Good Day Ameera,

Oakwood Homes in Burlington may have some programs that could assist you with concerns such as this. If you have not purchased as of yet, please contact us at your earliest. 336-228-7844! We would be delighted to help. We work with many customers who are in the same or similar situation to what you are currently in. However we do our best to help them with a New Home.


Mckisha Ramsey
0 votes
Aa_mortgage, Home Buyer,
Wed May 30, 2012
Hi Ameera, our first names are similar.
I'm currently in the hospital from a car accident. I noticed your question and I'm hoping to be of some help to you.

A written letter requesting to reduce judgment amount is possible by 50% or more. One would rather receive full settlement than nothing OR partial lump sum payments. Although it will be difficult but there's no harm in trying since we have been successful several times in the past. Once judgment is paid, you can obtain a mortgage for a 1 year term. Rate will be high due to credit history. After 1 year of building credit, you can renew mortgage with a good rate.

Note: $ 200 -$400 difference in payments you're looking at when comparing a person with excellent credit carrying same mortgage amount vs your credit history. You can rent a room or basement to assist you with payment difference. SO, it is possible to make this work base on your income vs expense.

Thank you

Ameera Ameerullah
Mortgage Broker
905-458-4222 Ext. 7.
Email: aameerullah@vtmp.ca
0 votes
, ,
Thu Jan 19, 2012
Hi Ameera,

You're on the right track.

Since you're Veteran I would take advantage of your VA benefits and look at getting approved for a VA mortgage.

The unpaid judgment is going to be an obstacle but not one you can't over come. You need to consider taking your large tax refund and paying off that judgment but you'll want to have a mortgage professional review your credit before making a decision.

Your first step should be to contact a mortgage professional and start the pre-approval process. Once your information has been reviewed we can come up with an outline of what needs to be done to get you into your own home.

Please feel free to contact me for more information or help. You can also check out my website by clicking the link below.

John Burke
Senior Mortgage Banker
ENG Lending
0 votes
, ,
Wed Jan 18, 2012
Get pre-qualified with a lender you can trust. You will need some minor guidance to improve your score while you research loan programs. USDA and FHA primarily.

Ask enough questions so that you can learn how to improve your score quickly so that you can Close this summer.

You want to find out if your income or the property you want to buy qualify for a USDA RD loan which can be obtained with zero down. More details here....


I'd be happy to answer your questions so that you can find someone local that you can trust. Check my profile and give me a call.
0 votes
Mark Meissner, Agent, Bozeman, MT
Wed Jan 18, 2012
Hi Ameera,

I would highly suggest contacting a couple of local lenders and they should be able to give you some options and let you know what your limitations may be for purchasing a home at this time. Good luck with your search!

Mark Meissner
Bozeman, Montana
0 votes
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