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I have late payments showing up on my credit report for a lease that was in my ex-wife's and my name. Can I still qualify for a loan?

by tjennings560 from Naches, Washington. Jan 5th 2016 Reply


Dave Skow (daveskow)
#19 ranked lender in Washington - 141 contributions

thanks for the question ....there are several factors that determine if you can qualify in addition to credit late payments ...... eg. Income / credit score/ current debt/ income / employment / assets ..etc.... I would recommend trying to get pre approved for a loan to find out for certain ....thanks Dave Skow WA MLO #278613 Eagle Home Mortgage2200 6th Ave #100 Seattle WA 98121W 206 714 9745 Fax (877) 412 2557daveskow@eaglehm.com http://daveskow.eaglehm.com/

Jan 5th 2016
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Derick Condron (rightstartoregon)
#33 ranked lender in Oregon - 597 contributions

Its hard to say it will depend on a lot of other factors as well. What type of loan, when was it, how is it reporting to the credit report these are just a couple of the questions. If you would like to put a full application together and see what it looks like I would love to help you.Derick CondronDcondron@rightstartmortgage.com

Jan 5th 2016
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

Much more info needed.. Are you talking about a car lease or a home lease.. how long ago were the late payments.. is the account still open, etc, etc, etc.. If there were late payments on YOUR credit report, it might have been your ex-wife's car or home, but you both signed stating you would be responsible to pay, otherwise it wouldn't be on YOUR credit.. Also, there's so much more that goes into determining one's eligibility that without looking at your complete loan profile, it's impossible for anyone here to say without looking at everything.. so if your serious about qualifying for a loan, then you should contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Jan 5th 2016
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,446 contributions

Maybe... It all depends. I suggest you simply contact a local mortgage broker in your area. Give them a full application, let them pull credit, and they can zero in on your individual situation to see if this is going to be OK, or if this is going to cause problems.

Jan 6th 2016
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Jericho Cherry (Jerichocherry)
#58 ranked lender in Virginia - 1,107 contributions

Check with a local Loan Advisor. He will be able to answer this question for you.

Jan 6th 2016
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Christina Hayes (CreditRepairExpert)
#8 ranked lender in Tennessee - 68 contributions

You will have to dispute the late payment history and or the entire account with the 3 credit bureaus. Some questions for you. 1. Were you ever a signer on the lease/loan? 2. Was the lease hers due to your divorce decree? If you signed the original loan/lease agreement then you will reap the benefits and or in your case the disadvantage thereof. If you did not sign the original lease agreement then you will have to dispute the account with the credit bureaus. Be sure to also include that (Suzie Q) example is no longer your spouse, and be sure to have any previous addresses and or current address that belongs to your ex spouse removed from your credit report. Best of Luck.

Jan 7th 2016
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