I want to buy a house but I have bad credit.?

I am a 25 year old female and I want to get out of my parents home, I dont want to waste money on rent but I have bad credit, how can I go about buying a house with Bad credit.I want to buy a house but I have bad credit.?
The answer is simple. And I am surprised by all the negative attacks. Just because you have bad credit does not make you a bad person. But you must take action to not make your credit worse.



1st. begin by paying any delinquincies or judgements off on your credit. Even if you have to setup a payment plan.



2. Look for a house that is rent -2- own it will allow you to rent the house until your credit is strong enough to buy.



3. Look for a reputable credit repair service. One that will not fix your credit for you but will help you repair your own credit. these are the ONLY legit credit repair services. Anyone that says they will fix your credit for you is LYING.



These three things should help you get started. Good luck and ignore all these jerks that just dont know how to buy a house with bad credit.I want to buy a house but I have bad credit.?
A HUGE down pmt! With the subprime crisis,you need decent credit to purchase a home.
Not really possible.
Your wasting your time -especially do to the times that were in in the US.
you can buy a house with bad credit, it's just alittle harder that's all. I would save all the money that I could and slowly repair my credit. then try to get financing.



Don't ever give up!
you can purchase a home with bad credit. the toughest part is getting good rates. however, you can always improve your credit over time. i got two blogs i write, the first one is on how to buy a home with no money. the second is on how to remove bad credit legal and fast. it's all free won't cost you anything but your time. check it out and see you in your new home!



http://timboson.blogspot.com/



http://bdcd.blogspot.com/
i think some companies will give you a mortgag cos at the end of the day if you dont pay they can take the house off you.



it will probably be an extremely high interest rate though and with house prices being high at the moment it may be worth waiting and just renting a while.



i am in debt and know how easy it is to get in debt so i stick to renting cos landlords (mine is council) tend to let you pay any arrears off in instalments unlike the bank and a mortgage that will generally just go for repossession.



hope this helps



Tracey xxx
even if you can find a mortgage company in this day (considering the current mortgage mess) that will back you...you will need a major downpayment...more than the usual 20%...it is not likely you will find one...and yopur interest rate would be exhorbident...your best bet is to move into a rental...save money....clean up your credit.
Loans are NOT BEING MADE to people with bad credit... they are the reason for the subprime mess now... the banks don't need to loan money to any more deadbeats who can't make the payments.
i think you can still get a house but with a huge interest rate or APR!
get an apt. you wont get a house with bad credit, period.
get over it u can not get a house w/ bad credit
I understand that being 25 makes you want to be independent and you are ready for your own house, but I think that your best option would be to first, speak with a financial adviser about fixing your credit and managing your debt. Once you are able to clean up your credit and maintain good credit for at least 1 - 2 years, than you should contemplate looking into buying a ';home';. I suggest a condo because they are less expensive and if you cannot handle the credit you have now, can you imagine how it would be with a mortgage.



Above all else, you need to make sure that you aren't only financially ready, but emotionally mature to take care of all your responsibilities. I know it's probably not what you'd like to hear, but it looks like you won't be ready for a couple of years.



If you do decide to rent, remember, that is another credit issue. They do run your credit for that also and base whether or not to rent to you on your credit. So, maybe toughing it out and paying rent to your parents is a safer way until you are a little more stable credit wise?
HAHA good luck with that.



Should not have screwed up your credit.



LOL.
stay at parents house,save money and reestablish your credit..( credit card,a small loan,store cred. card)and make payments on time with a little more than the min.,,.you can still get a mortgage with bad credit,bad credit rating will make your interest rate on that loan alot higher
It is hard to buy a house with bad credit. What i suggest you do is cancel all your credit cards. Then make sure you start paying off what you owe. In 6 months your credit will get better. The problem right now is that if you do get a loan, it will be at a very high interest rate, and you will not get a decent house.
Buying a house while you have bad credit is likely to cancel out any benefits you would have gotten from home ownership.



Renting for awhile is not wasting money--you are getting something for your money! You're getting a place to live, a roof over your head. You're also getting a lot of utilities/services included in your rent that you would be paying extra for if you owned a home.



There is nothing wrong with renting if that's your best option at the moment.
i am going through a similar issue..bad credit from divorce, etc...i am renting an apartment now and spending the next year attacking my credit reports..believe it or not, there are ALOT of incorrect things reporting on mine, from little things like my name to accounts that are closed, to accounts that are not even MINE...every little bit helps..then after corrections, start making arrangements to pay off some of your cards...renting isn't as wonderful as buying, but with poor credit and today's problems in the housing industry, you probably won't be able to buy a house at present time..
with any mortgage company is have at least 10 percent cash to put down on a house-this sometimes will offset the bad credit-might have to rent something cheap till you can raise the money-do not borrow it-will show up on credit report-be debt free and past bills paid off or on time for period of 1 year
you could rent a place prior to going bankrupt , and when after a year or so your slate would be clean then try for a mortgage . or if you are determined you could get a mortgage but pay a higher premium and you could risk losing your home if creditors are after you ie your new home , good luck
If you can ,get a line of credit for downpayment and some money from your parents and should be enough, .try it , and rent out rooms ..
Maybe you should have thought of that before you spent all that money you didn't have to get that bad credit. You reap what you sew, I have no sympathy for you. Were those shoes or other big purchases really worth it now?
get a job an earn some money!!!!