Last year, I filed bankruptcy. this year, I had a voluntary reposession, next month I am planning on letting my house go on either foreclosure or short sale. I've missed 2 or 3 payments on my house, I've not missed any payments on my car payments BUT there is this guy who wants me to put 5 or 10 thousand dollars on a rent to own house and then the contract says buy it, or loose all the money I put towards it. Will my credit be okay to buy it? Or am I just wasting my money? Do you think I should just rent until my credit built back up? I used to have a 950 credit score, but because of a bad loan its to 550. Is it possible that this lady knows that I won't be able to get a loan in 5 years when the due date is so that i can purchase the house so that she will be able to keep the money? Or will my credit be better in 5 years?
2007-12-02
08:45:39
·
7 answers
·
asked by
Anonymous
in
Renting & Real Estate