Child Support

[Anonymous]

If child support is not reported on your credit, unless you're in arrears, do mortgage companies consider the amount when you ask for financing?

[smallfry]

Of course they do. If you fill out the application with false info they are entitled in most if not all cases to call the loan at any time.

[Anonymous]

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@Anonymous wrote:
If child support is not reported on your credit, unless you're in arrears, do mortgage companies consider the amount when you ask for financing?

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Also consider that if your child support is enforced through payroll assignment, as mine was, it will show up when you are required to show proof of income at application time.

CB

[Anonymous]

Thanks guys! I do wish I'd found this site sooner. I guess my chances of a mortgage are nil, no? FL judge gave me below state minimum of 35%, but even at 33%, that'll disqualify me for anything but a shack, right? If total back end obligations have to be below 41%?  Scenario: level set when I made 34K/yr at 1K/mo; changed jobs and now will make 45K, but payment frozen for next 3 yrs. No other debts, but have some cleaning of report to do. I'm a long-haul driver, basically living in truck for now until I buy (I hope) a home. Car paid for, credit cards paid off. Cell phone bill=$140/mo. Insurance on life and auto=$150/mo. Driving partner of 5 yrs willing to help on utilities, but I do not want him on the deed.  Anyone have any idea if I could qualify for anything worth talking about, or should I seek alternative? Is the gov't tax credit good on an owner-financed mortgage?

Thanks again for allowing me to pick your brains!

Jennifer

[smallfry]

Cape Coral/Ft. Myers too far south for you? Nice deals down there now in the 100-125K range.

[Anonymous]

Ha! No thanks! Trying to get as far away from FL as possible--like Sacramento, CA! Close enough to Tahoe without the pricetag, and if anyone's gonna get the gov't stimulus $$$ it'll be CA because they are huge both in ego and economics!  They have these neat little things called J-O-B-S!   I'm pretty sour on FL for a number of reasons; I tell everyone I'm from LA (Lower Alabama!). Thanks anyway!