consolidation and purchasing a house

Date: Mon, 05/22/2006 - 04:26

Submitted by anonymous
on Mon, 05/22/2006 - 04:26

Posts: 202330 Credits: [Donate]

Total Replies: 1

Hello, My question is, because of our high gas bills, an increase in property tax and having to pay for an over priced car that was a car we co-cigned for (the bank made us sign papers telling us they found a way to decrease the car payment for our nephew, but they put the whole car in my wife's nam,e and we didn't know that) made us get behind in my bills. We found a house we like and want to purchase it after we sell this house, but that may take a long time. Will a consolidation for about $7500 hurt me with getting a house loan?

gnomecracker2, unpaid accounts look ugly on your credit report.

gnomecracker2, unpaid accounts look ugly on your credit report. Credit scoring models put much stress on your payment habit. Regular and timely payments can raise your score up. Consolidation ensures a regular payment, so it will help you make your credit better.

You should also discuss this issue with your counselor. Tell them that you are going to buy home. I am sure, your counselor will guide on how to proceed so that you can have the best deal.

Also check this thread to know the important steps of lifting your credit score up-

http://forums.debtcc.com/forums/credit-check.html

BTW, welcome to the board :D I am sure you will like your stay here :D Do let us know if you have any more queries.

lrhall41

Submitted by stanley on Mon, 05/22/2006 - 04:42

( Posts: 1639 | Credits: )