what
|
You need to continue your research. Search out each legitimate lender, and newspaper add for lenders in your area. DO NOT GO TO LENDERS ON LINE, please, don't get caught in their bate and switch scams.
Some times, (I did it three years ago, coming off of bankruptcy so I know), a lender will give you two loans called 80/20. The eighty % loan is the thirty year fixed; the 20% is a two or three year ARM. You should look for low-doc (low documentation) loans too. Pay off the 20% ARM as quickly as you can with extra principle payments EACH month.
But do not give up, instead, while you are looking for that loan, start saving at least the amount you think you will pay in a mortgage plus 10%. This will help with the cost, and show the loan officer you can do the monthly payments. At first, get a small home, something you can get by with, but can sell two years from now as well, so you can up grade.
Now, take a breath, sit down and think about what got you into this bad situation: learn from it. Don't do those silly things again, you are now ready to move on with your life, and your credit will clean up too.
You CAN DO IT. You'll be okay, get focused, and keep trying. Good luck. |
Landlord
 |
These scammers will make it worse for you.
You were given a chance, and obviously do not amke monthly payments, that is why your credit is low. People who make their payments have high credit, that is how it works.
Take care of anything that is over due right away and start paying everything on time and your credit will go up.
Homeownership is up to you and the choices you make, not the banks. They wont lend if you are going to default right away, foreclosers are expensive. |
Homepage 
Financial
Forum 
Personal Finance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
