Don't lose hope if you're looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation.
Of course, some will cost you more money in the long run, but a home it's still one of the best investments that you can make, so, in many cases, it's worth it, especially for the first year of ownership.
You should shop around, and ask different lenders what kind of programs they have, and if they can help. Try to find a lender that specializes in bad credit mortgages. You can find some bad credit mortgage lenders listed on this page on and off:
http://www.axalda.info/bad-credit-mortgaDoes anyone know any mortage companys that will help people with bad credit?
My credit sucked but the realator that we had found us a mortage company willing to take a chance so ask a realator
Not anymore. Have you watched the new?!!?!?
You need to pay off your bills and use what credit you have wisely. As you make good payments on new stuff, your score will slowly come up.
The bigger down payment you have, the more likely you are to get financed. The last thing you want to do is buy a HOUSE with bad credit. Just a quarter point increase in interest will cost you thousands over the term of the loan.
Don't buy a house until you can get the best rate.
People buying houses when they were not ready is why the industry is in the mess it is today!
Take the hint and DO NOT BUY A HOUSE RIGHT NOW!!
Too many people bought houses but could not afford them and then they ruin their credit (even more than before) and lose their house.
Best bet is to
1) pay off your credit cards,
2) stay in a cheap apartment or get a roommate,
3) pay off any other debts
4) then take all that money you were spending on paying off debts and save it until you have a 20% down payment for a house
5) then and ONLY then, go shopping for a house you can afford
Following this will take longer, but it will guarantee that you will have the financial discipline to keep the house once you sign the papers for it.
Hope this helps,
Good luck!
There are hundreds if not thousands of websites on the internet enumerating the ways to apply and receive home loan when you are plagued with bad credit issues. These sites help consumers with bad credit scores to increase the viability of their existing credit scores and set up loans regardless of their credit history.Companies that specialize in bad credit home loans; usually offer a wide range of options for consumers with bad credit%26lt;!--These options include Bad Credit Home Loans, Home Equity and Line of Credit (HELOC) Loans and different options for Mortgage Refinancing, making it possible for those with bad credit to realize the dream of owning their own home.You can find more information on Home Loans here,
http://badcredits.awardspace.com/homeloans.htm
They also offer a debt consolidation offer which helps the home owner organize a comprehensive program for controlling their spending. Many consumers with bad credit are grateful for the opportunity to receive a second chance, sort to speak--%26gt;Bad credit hasn't stopped them from purchasing a home. There are several programs available for people with bad credit that helps to restore their credit status and to live debt free lives.
In what state are you trying to buy??
as disapointing as it may seem, you will probably have to wait. you will eventually get apporived, however the rates will reflect your current credit and payments will be full of unwanted extra charges.
i do not feel it would be a good idea to seek debt consolidation. this is never a good anwser. MOST debt consolidation programs take your money and make your credit worse. if you chose to enroll in a debt consolidation program, do your research. make sure you know what they are charging you, make sure your current lenders except offers from debt consolidation programs. do not let a consolidation program tell yuo they can ';remove'; all bad debts, this is a lie, nothing can be removed unless it never exsisted. do not let a company advise you to stop paying bills.
definitly get your credit fixed before buying ahouse but do it wisely, and be patient. know your goals and work toward them.
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