Obtaining a Mortgage with Excessive Credit Card Debt
November 10th, 2009
When trying to obtain a mortgage, lenders will look at how much credit card debt you carry. I learned this the hard way when trying to get a loan for my dream home. My irresponsibility during my younger years still continues to follow me in my late thirties. When I went to apply for a mortgage, my credit report read like a novel. Every payment I made that was late, or missed was there. I was so embarrassed. As I look back now as a responsible adult, I can’t believe I was so out of control. If I wanted something, I swiped my card! I never thought it would affect me the way it has later in life.
Entry Filed under: Business