Asked by Ladybugbabyhouse, 90008 • Mon Jul 26, 2010
My husband and I bought a duplex in 2006 for $550k. We were furloughed and fell behind on our payments. Fortunately, our payment was modified to a 30yr fixed @ 3.5 %. We are getting back on track we will be debt free next year. We would like to buy another house in 5 years due to LAUSD (would like to get out of this area into a better school system). Will we be able to purchase another house with a history of late payments on our credit report 5 yrs from now? We would have enough for a 20% down.
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