SCHUMI asked:


were on the process of short sale the house..we miss paying our mortgage for 2 mos now..i have a couple of existing credit cards, and ive been applying or open a new one,however i got decline most of the time..do you think this is already the result of not having paying the mortgage? is there still any bank or company that will approve me?

Kenneth

3 Responses to “my house is on short sale right now.i miss paying my mortgage?”

1. brandiann78 on March 25th, 2009 8:35 pm

   Sadly, 2 RECENT mortgage late pays will definitley affect your creit enough to keep you from getting a credit card…if you have a relationship with a small local bank, you could try that…but it is highly unlikley you will be able to obtain new credit with 2 30 day mortgage lates having just happened…mortgage trade lines carry alot of weight in your FICO scores..

   It will take minimum 12 months after having no mortgage lates for your credit to begin bouncing back…

   Good luck

2. mayflower on March 27th, 2009 4:13 am

   Why are you applying for credit cards if you are not responsible enough to pay your mortgage?
   Your house payment should be the first & most important bill that gets paid!

   I hope there is not a bank that will approve you.

3. file2fone.com on March 28th, 2009 12:08 am

   I think you should contact your borrower and discuss with them, they will provide you good solutions, I think it would be good to continue with them rather than using your credit card as the interest rate of credit card is higher. For more information on finance and debt refer the resource link.