Does anyone know any bad reputation home loan credit grantors? My partner and I both have bad credit. We want to know if there are bad credit reputation distributors of home loan out there that will help us get a home loan with little or no deposit required. We are both employed full time, but our finances are being eroded by the rent and pay creditors. Suggestions?
Probably not in this economy. If you do find to be very very careful.
No, no.
If your finances are eaten by your debt, you can not afford to buy a house. If you can not record 3.5% of the purchase price and have a little money in savings, you can not afford to buy a house.
You needed to try and buy back at home in 2005 until 2007 if we wanted to find lenders who have worked with such a dire situation as yours.
Now you will be informed by 99.9999% of lenders (the other 1% you scam) to clean up your credit problems, save a deposit and wait years to get your score to rebound at least 620 before trying buy.
Well, there is an oxymoron! Mortgage lenders are not trustworthy in situations of bad credit, and are certainly not ready for those two to one with bad credit and no money. Continue to pay your creditors, rent for a few more years and get your credit straightened.
No, there is none. Not only do you have bad credit but your income to debt ratio is too high. Clean your debt and improve your credit score before thinking about buying a house. The rent for the house cost more per month thereafter.
change your approach;
use either a land contract - or
a lease-purchase!
I can help with either
If you have a good incentive, you can get an investor to work with you
Posted on March 25, 2010.
