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South Louisville : Real Estate Advice

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Activity 2
Thu Jan 6, 2011
Jim Simms answered:

I have reviewed thousands of credit reports over the years; they include a lot of information in addition to mortgage histories. Your question indicates that you “had to walk away” which sounds like you have already moved out of the home. If the default on the mortgage is the only problem on your credit report that may be something you can work around. If there are other problems besides the mortgage it will be more difficult. Most of the time when I see mortgage late payments on a credit report there are other items that were also late or unpaid. Many people will make their house payment before paying on credit cards, etc.

A landlord may be more cautious if the monthly rental on their property is equal to or higher than the mortgage payment you stopped making. Something you may not have thought of is a co-signor on the lease. It is not necessary for the co-signor to live in the rental, it is just additional security that the landlord will be paid. Good luck.
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Sat Mar 15, 2008
Noel Harris answered:
The fact that you now have a history of paying off debt and paying on time will work in your favor. Now what we need to do is get you to a loan officer and let him advise you on what to do next. I work with a great person who works for Century Mortgage Co and Century does more loan than anyone in the state of Ky. He will be able to help you. Just contact me (Noel 502-338-7145) when you are ready to get started and we'll get you into your new home really soon. ... more
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