Will a Car Repossession Keep You From Getting a Home Loan?
If you have experienced a car repossession, you may be concerned about your ability to get a home loan. The truth is that having a car repossessed can keep you from getting approved for a mortgage. This is because it could mean that lenders view you as an unreliable borrower and are less likely to lend money to someone who has defaulted on payments in the past.
The first step in determining if you'll be able to get approved for a home loan after having your car repossessed is to understand what's on your credit report. Lenders will typically look at this information when considering whether or not they should grant you a mortgage. If there are any negative marks related to the repossession, such as late payments or collection accounts, then this could potentially be an issue when applying for financing.
The Law Offices of Omar Zambrano has helped thousands of people and them businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706