I need information on buying a house with bad credit. Can anyone help?

My credit is bad from my previous marriage. Some are his bills that I am NOT going to pay off. Single mom and really hard to get those bills down. Anyone know how to go about getting a home with bad credit? I know you can with a mobile home. But I want a house.I need information on buying a house with bad credit. Can anyone help?
The first place to look is a mortgage broker. Many mortgage brokers have several programs to choose from including for people with bad credit. Also, pull a copy of all 3 credit reports. this will allow you to get a complete picture of your credit without taking a hit on your credit score. You can even take these with you to meet with the mortgage broker and then he or she will be able to provide more direction. You should know what you can afford before you go looking for a house. Plus don't be afraid to take a smaller investmetn than originally planned. Home ownership builds credit as long as payments are on time and consistent. This can lead to your dream home.I need information on buying a house with bad credit. Can anyone help?
Also consider if you can lease a house with option to purchase, while you work on repairing your credit. Usually you can pay a small down payment and the part of the monthly payment can be applied towards the downpayment. But there is no credit check for this and looking for FSBO is a good start. Just Ask!
David K gave you some excellent advice.



But I wanted to add a few comments:



You mentioned your bad credit is from a previous marriage...you said they are his bills and you are NOT going to pay them. I can understand the anger and feeling like you should not pay them, but when you put your name on a loan or a credit card with your ex or let him use your credit cards, etc....they became YOUR bills too.



I understand that you may be having a hard time making ends meet. I was a single parent too. But if you're not paying those bills on principal...you're only hurting yourself.



Talk to a mortgage broker. They may be able to qualify you right away. If your mortgage broker can't get you approved, have them go over your credit report with you and let you know what actions are most important to take to raise your score. You may not have to pay off his bills, but if you do, I suggest you do it. Do whatever you have to do to raise your credit score and buy a home.



There is nothing like the feeling of walking into your new home, knowing you own it and you did it all on your own.



Also, in my experience as a lender, it is harder to finance a mobile, modular or manufactured home than it is a house.



As far as qualifying for assistance because you are a single mother...I doubt it. But check with the state, city and county governments in the area you would like to buy. They may offer downpayment assistance programs that are based on your income and household size.



Best of luck to you. I hope you are a homeowner soon.
If the judge ordered you to pay them off as part of the divorce proceedings you have to. Happened to my sister.



If you're a first time home buyer you can get into some federal or state programs that help.



Not to sure about with bad credit though. It might be just as well to wait a few years and work on your credit and save for the house. You usually end up hemorrhaging money the first year in a house.
Check with a REALTOR, much better than a mortgage broker, no brokerage fees involved. Also you may qualify for FHA, or government loan being a single mom. Good luck!
this is text from the link on my profile

check it out for yourself

Bad Credit Approved



Even If You Have:



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Divorce Troubles

Slow Payments

Charge-offs

Judgments

Liens

Tax Liens

Bankruptcy

Repossessions