I would like to know if I would have problems renewing my mortgage due to my credit cards being in d

I have not missed a mortgage payment in 2 years, but my credit cards are in default, and I have one line of credit that has had late payments. Will this affect my mortgage renewal, and would I be able to shop around for a different mortgage lender?

I would like to know if I would have problems renewing my mortgage due to my credit cards being in default?

Mortgage renewal? No such thing. Are you talking about a refinance? Yes, a refinance will be heavily damaged by problems with credit in other areas.

I would like to know if I would have problems renewing my mortgage due to my credit cards being in default?

Your credit rating will have suffered but your existing mortgage provider will probably not care so long as you have sufficient %26quot;equity%26quot; in your property - this is the percentage of the current value of your house that is not covered by the mortgage. For comfort most mortgage providers like to stay in the 50% to 70% range especially for properties that are in difficult areas or poor condition - they know that they can easily lose 40% on a %26quot;fire sale%26quot;.

If you do try to move mortgage you will find that your won%26#039;t be able to borrow a high percentage of the current value of your property and the interest rate will almost certainly be higher than for other people.

this is what the %26quot;sub-prime%26quot; mortgage crisis is all about.

I would like to know if I would have problems renewing my mortgage due to my credit cards being in default?

you won%26#039;t be able to refinance with late payments on your record.