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?
well banks look at student loans more like an investment loan for the future. If they loan you the money you will be going to school to get a job to pay back the loan. With that said, your mortgage foreclosure will affect your credit score and they do take that into much consideration when going over your loan. if you were applying for a mortgage i would say def no, but they do look a little differently on student loans which is good for you. good luck
