I was divorced and have a default on my credit file. Long story.
Is it possible for me to get a loan?
Is it possible to get a loan with a default?
- sendtobaka
- Posts: 20
- Joined: Fri Jun 26, 2009 11:06 am
- Otto Dargan
- Mortgage Specialist
- Posts: 7730
- Joined: Sat Sep 06, 2008 5:55 pm
- Location: Sydney, Australia
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Re: default
If the default has been paid, you can prove that you were divorced with some kind of evidence and you have a good reason as to why the debt was not paid backed up wit ha default letter then you may be able to get approval. If you are borrowing over 80% of the property value then the loan would need to be approved by LMI as well as the lender so you are less likely to get approved.