cancel
Showing results for 
Search instead for 
Did you mean: 

Chances of a mortgage approval with a prior second mortgage CO?

tag
Anonymous
Not applicable

Chances of a mortgage approval with a prior second mortgage CO?

I have been working really hard the last 2 years on my credit.  My score is @ 715 on all 3 CB.  Everything current looks great.  I have my last 2 baddies falling off this summer.  I would love to buy a home at the end of this year.  Unfortunatety,  I have a second mortgage CO with my Ex 75K.  The home went into forclosure, my name was only on the 2nd mortgage.  He fell so far behind on support payments, I could not keep up with the payments by myself while we tried to sell.  This is not due to fall off until Aug 2017.  Do you think a mortage company would approve a mortgage with the CO?  Or am I doomed to wait unil Aug 2017 to buy?  Thank you. 

Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: Chances of a mortgage approval with a prior second mortgage CO?

Not an expert, but one would assume a prior mortgage late/derog is the last thing you want on your report when looking for another mortgage. Maybe you should try posting in the mortgage forum for a clearer answer.

Message 2 of 5
Anonymous
Not applicable

Re: Chances of a mortgage approval with a prior second mortgage CO?

ok, will do. Thank you

Message 3 of 5
RobertEG
Legendary Contributor

Re: Chances of a mortgage approval with a prior second mortgage CO?

How did you obtain a second trust on a property that is not in your name?

Were you a co-signor?

Message 4 of 5
Anonymous
Not applicable

Re: Chances of a mortgage approval with a prior second mortgage CO?

Yes, I was a co-signer
Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.