 Is there a way to get out of a mortgage I cosigned with a friend? |
| He dosent work and hasnt been very good with his bills, I did not really put any money into the house and i just want out to save my credit.... |
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 I sold a house on 8/31/2007. I didn't pay the mortgage that month. How would this affect my credit? |
| The bank sent a note of one unpaid monthly payment to the credit bureau. How would this affect my credit?... |
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 Would I qualify for a 300,000 mortgage loan ? |
| This is my situation my husband and I have two small children for which for the past two years I made very little; and my husband is self-employed. We made a combined 39,000 2006 and 36,000 2007. We ... |
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 Why should I hire a realtor? |
| I feel that all of the realtors I have used over the last 35 years/8 houses have only been concerned for themselves. The last 2 houses I bought from owner. Can anyone change my mind that realtors are ... |
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| I think I can figure it out on my own. Is a dual agent enough?... |
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1. I could raise the selling price higher
2. It will attract more realtors to show the house and could cause it to sell more quickly
3.It will attract more buyers to drive ... |
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 What is a foreclosed home? |
how do foreclosed homes work? Do i pay what is owed against them or so i just purchase it for a super low price?
Additional Details
So a Foreclosed home is not bought at an auction?... |
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| i'm ready to buy my first house here in southern california and was wondering when a good time to buy would be. i know the market is dropping, but for how long.... |
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| im currently renting a 3 bed terraced from my father i dont know what rights i have concerning decorating and new windows? anyone help?... |
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| She has good credit history and rental history and I don't. I would like to know if there is a way we could still be able to get a place without having any problems. please ... |
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 Do you always have to put a 10% down payment on a house? |
| My fiance and i would rather buy then rent....we are just worried about the large downpayment. Is this always necessary?... |
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 I want to save for a down payment on a house, but I pay $1300 for rent. Any suggestions on how I can save $? |
| I want to save up to $20,000 in the next two years and it would be possible if I didn't have to rent. My credit is getting repaired, its not bad, but its not great. I bring home just about $2500... |
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 Help with my landlord and what my rights as a tenant is? |
| i lived in this house for 1 year now, and am moving out this month, this landlord is horrible, he doesn't fix anything, he won't listen to my complaints, there is mold in the basement and ... |
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 Does anyone know if there is a way out of a 5 year fixed mortgage without having to pay the penalty? |
| I got a fixed 5 year fixed mortgage with northern rock, due to unforeseen circumstances i now have to put the house on the market, im only 5 months into the mortgage term which means a hefty penalty, ... |
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Janice J | The best loan for first time home buyer with bad credit? |
can anyone tell me the best loans out there for first time home buyer with bad credit 500-586? |
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NONAME
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The absolute best would be an FHA loan. There is no minimum credit score, great rates (6.00-6.5% today), and you only need 3% of the purchase price into the deal. That 3% can come from a gift, grant, even some seller-funded grant programs, and you can literally buy with no cash of your own.
To qualify for FHA, you typically would need at least 12 months of clean credit, so if you have old bad credit, it's ok if you've been on time for the past year. Having a verifiable rent history is vital to any offer you could get, so make sure it's available and paid on time too.
If you can't go FHA, you're likely to end up in a subprime loan with rates 2-3% higher, punitive prepayment penalties, and a rate that would adjust even higher after 2-3 years. Avoid this at all costs. |
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Smart A
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Wow! your credit is awful. expect to get a very high mortgage rate because the banks know you won't pay your mortgage and this is a way of compensating them for the tremendous risk that you pose. After a couple of months of default, the bank will then foreclose the house and become the new owner thanks to you. Then they will resell it for a profit to the next person and so on. |
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Amanda H
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I assume you mean 0 down?
There aren't. 580 as a middle score will get you a 0 down loan (but it will be an 80/20) with an average interest rate of 7.5-9%.
Fix your credit first. |
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kurts99ford
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Wait two years and get your credit up! Pay your rent and utilities on time or early and pay off ALL un-secure debt (credit cards/personal loans). THEN go to multiple banks and see who will offer you the best rate.
Good luck, but fix that credit first! |
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Lowa
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Many banks will offer no down payment loans for poor credit, you have to just shop around and see what they'll pre-approve you for. |
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Luna27
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Shop around and see if banks in your area have grants for first time home buyers, most will and a lot of them will be released later this month. Shop around. Whatever you do don't get sucked into ARM (adjustable rate mortgages). You will get screwed in the long run. |
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iceman
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500 -586 is a wide range.
A 500 score will probably not get approved for any mortgage unless you can prove a very good income. And even then, they will consider you a awful credit risk and probably charge you upards of 10%.
Closer to 586 is poor, but not awful. You most likely could get approved if your income is steady and dont have debt flowing out your ears.
I think you should work on whatever is hurting your credit. You will be amazed how fast you can correct your credit score if you do the right things to help.
You could be pushing 600 -625 in a year easily, and then you can get a much better mortgage. |
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Johnny A
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Bank of Mom and Dad... |
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mortgage d
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I can help you with this. plz email me @ mortgage.doctor@yahoo.com |
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