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Credit Counseling and Buying a Home

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sia101009 Joined: 10 Oct 2009 Posts: 17 0.06 Dollars($)	Posted: Tue Oct 13, 2009 11:07 am    Post subject: Credit Counseling and Buying a Home Like 0 Dislike 0 One of my fast friend have some doubt about the purchasing new home can anyone guide Her details are as - [System detected duplicate content, converted into image. Thanks.]
savior70 Joined: 25 Mar 2009 Posts: 1895 Location: Florida 261.84 Dollars($)	Posted: Thu Oct 15, 2009 4:33 am    Post subject: Like 0 Dislike 0 Hi, Quote: My financial advisor told me I will have to wait until 5 years after my debt is paid off to get a good rate on a loan Does your friend currently have too much of debt obligations? If she has too much of debts, it will affect her debt-to-income ratio. If this ratio is too high, she will find it difficult to qualify for a new loan and make the purchase. It is not necessary to wait for 5 long years. If she can pay off the debts quickly, reduce her debt obligations and improve her credit scores during this process, she will not be required to wait that long to make the purchase.
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12346 Location: bloomfield, ct 53.01 Dollars($)	Posted: Fri Oct 16, 2009 11:33 am    Post subject: Like 0 Dislike 0 usually someone coming out of a debt counseling service will be eligible once those debts are paid in full, i.e. immediately. _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12346 Location: bloomfield, ct 53.01 Dollars($)	Posted: Fri Oct 16, 2009 11:33 am    Post subject: Like 0 Dislike 0 or wait...is it a 5-year payback plan? _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044

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