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I am not in foreclosure I pay my mortgage on time every month. I am thinking of selling my house. But I also want to buy another house. Now does your credit score effect that. If you have enough for a down payment and closing after selling your old home.

3 Thoughts on Can you sell your house with bad credit? ?
  1. Reply
    westcoaster
    July 26, 2011 at 10:19 pm

    Bad credit will not affect you selling your house. It will on getting a new loan though for a new house. However, if you have a large enough down payment you can still get financing. Good luck.

  2. Reply
    MavistheMaven
    July 26, 2011 at 11:09 pm

    Your credit score will affect your loan eligibility, but the fact that you have a home to sell and may not need as much money may help. Also, since you’re paying your mortgage on time, the same lender may be more willing to extend another mortgage to you. You really ought to call them and ask.

    Your credit may not be perfect, but it may not be as bad as you think, either. You may also be able to improve it significantly in just 3-6 months as well.

  3. Reply
    susan c
    July 26, 2011 at 11:44 pm

    Not if you have any liens imposed from your creditors or being forclosed on by the lender of your mortgage. If your credit is tarnished and not as great as it could be, your possible lenders wouldn’t be less than if it was in the best standing. There’s also a chance of a seller financing you themselves…like option to buy. Part of your monthly rent would go towards the down payment.

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