Friday, July 15, 2011

Getting a mortgage with bad credit if I have lots of money.?

Ok ,so here's the deal...i suffered GREATLY from the recession and now I have bad credit...I have the following things charged off on my credit: $150 electric bill, $300 comcast bill $700 credit card $500 walmart card and a $800 student loan...all are either 180 days past due or charged off completely. I just recently got a settlement for a lawsuit I filed over 6 years ago against my former employer for $842,000 dollars...i got the check and put it in the bank yesterday...but now I'm thinking I want to move to Atlanta (I now live in Houston) and buy a house. Can I still qualify for a mortgage of about 2-or 3 hundred thousand dollars since I have so much money in the bank, I dont wanna pay for the house cash cause I want to use this money to invest in. Will the lenders approve me because of my bank account and also, i am not working right now either. PLEASE ONLY SERIOUS REPLYS AND PEOPLE WHO ACTUALLY KNOW ABOUT THIS STUFF

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