| Loss Mitigation General Chat loss mitigation |
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04-29-2009, 04:21 PM
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Does Foreclosure on a mortgage now prevent
you from getting student loans? I am going to school and need a student loan but we got ripped off (as did alot of people) when we bought our Condo and can't afford it anymore. Other than that we have perfect credit. Will I get turned down for a student loan?
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04-29-2009, 05:49 PM
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Well, you don't have perfect credit, you have a foreclosure on your credit, so your credit is tanked, and this will haunt you for the next 7-10 years.But, student loans are need based, so as long as schools have funds and you meet the fund guidelines, you should be able to get student loans. Its the private lines of credit that you would likely be denied.
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