Sunday, November 14, 2010

How can I buy a new house when I have bad credit?

When I bought the house that I am currently living in, it was only me and my oldest son. Now, I am married and have three more children, so there's six people living in a house with two bedrooms and one closet.



The problem is, I know that my credit is bad right now, the economy is bad, and the housing market is bad. Is there any chance that I can get into a bigger house within the next year or so? Are there any organizations that can help me?



Another problem I've run into is that when I bought the house, I soon realized that I could afford the mortgage payment but not the upkeep of the house. It's 60+ years old and needs a LOT of work so I think it will be pretty hard to sell it. I feel like I'm stuck between a rock and a hard place. Can someone please give me some advice?



Thank you!How can I buy a new house when I have bad credit?
You are married, have your husband help buy the house. No, there are no organizations that are going to buy one for you.



Older homes are not hard to sell, there are many people (I am one) who really love them. I have 3 that are more then 100 years old, they are my favorites. The house I personally live in was built in 1940 and I adore every square inch.How can I buy a new house when I have bad credit?
Start saving your money,.... do you have enough room to expand the house you have now?

It might be easier and cheaper to add on a couple bedrooms and a bathroom, build more storage space, fix your other problems, and refinance the whole package....



Especially , if you can put in some ';sweat equity'; and do some of the work yourself....

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