Buying a home while owing back child support

Those who are looking to buy a home in Georgia may have trouble doing so if they owe back child support. This is because it represents a debt that a lender will take into account when making a loan decision. Furthermore, failing to pay child support on time could have negative consequences for a person's credit score and history. However, changes to reporting rules may mean that a back child support obligation doesn't appear on an applicant's credit report at all.

An individual is generally unable to get a mortgage if their name appears in the CAIVRS database. Someone who knows that their name is in this credit-alert database may be able to reach an agreement to change that. This can occur before a child support balance in arrears is paid off in full. In some cases, back child support will prevent a person from getting a VA, USDA or FHA loan.

To eliminate problems related to back child support, it could be easiest to transfer the balance to a credit card or take out a personal loan. While the payment would still show up on an application, it might enhance a person's chances of getting approved for a mortgage. Using a personal loan and/or credit card to pay back support can reduce the interest rate paid on the balance.

Individuals who are trying to resolve issues related to back child support may want to partner with a family law attorney. Legal counsel could help a parent negotiate a deal to be taken off of federal databases and make payments in a timely manner. The lawyer may even assert that allowing a parent to get a mortgage may help to provide a safer and more comfortable lifestyle for the child.

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