Posts Tagged ‘credit cards’
Is it possible to get a hard money loan on a house and leave the country?
Someone I know did this based on his homes equity and I’m wondering at the legal repercussions. He left right after he got the money.He gets a structured settlement, from an accident,the company is based here in the states.
Can this be garnished? Will it be impossible for him to re-enter the country?
Hes my ex, thats how I know all this information…Is anything going to happen to him?
I know credit cards follow you for 8 years, and if you walk out on a house with a full blown mortgage it can follow you for 3 years….
Does anyone know anything about this?
Want to buy a new home but have questions first.?
My wife and I would like to move soon. We currently own our home now (0K). My wife is not working, she’s in nursing school and will graduate in June 2010. I am not working due to an accident in July 2005 but I do receive 00 a month in a structured settlement payment that is due to pay me until 2029. We have K to put down and we’re looking at homes that are asking around 5-299K. Basically want to get out of town and more rural with some land. We dont have the best credit (wifes is better than mine) but we dont owe anything aside from my wifes student loans (K) that are due to be paid back in December 2010 - that is when she’s due to start making payments. All credit cards (she has 3) are paid off and they’re nothing huge all under 1K in balance. We were wondering if we used the 70K as down payment and put our current home up as collateral (then rent it out for around 0 monthly) we could possibly get the loan for the new house or would having the 00 a month in income be enough even though it’s not "income" perse it’s a settlement? This is all kind of new to us so we dont know where to start or what to do but dont want to be taken advantage of either. Thanks if you read and understand all that!