Will your debt stop you from getting a mortgage?

Posted by Bonnie Martin Designated Broker on Monday, October 6th, 2014 at 8:08am.

bank__olegdoroshin_450homes.yahoo.com - Do you carry debt and worry that it may stop you from buying a home someday? Well, you're not alone.

 

"An alarming 35 percent of people with credit files have debt in collections," according to a July 2014 report by the Urban Institute, a nonprofit organization that conducts research on social and economic policy.

If you're in that group, it's important to know how that will affect your ability to get a mortgage and even more importantly, what you can do to lessen the impact.

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Photo:  ©[Oleg Doroshin]/123RF.COM

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