We own a home, are going to sell it, and maybe clear (after all costs) $10k - $20k. Our credit is poor due to medical and marital problems. And we are aching to live somewhere else, locally. (Ohio).
Since both of our credit scores are pretty low (I'd say 500's), are we better off renting for a year or two and bringing up our score; or purchasing a home with a smaller mortgage payment (and what certainly will be a higher interest payment).
Also, we have three kids a dog and a cat, if that makes any difference. I know it will be harder to rent with the animals, but there are people willing to do that, as I've seen.
Is there even anyone who would consider giving us a mortgage with the poor credit??
We are torn about this! Help!
2006-07-11
02:53:49
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10 answers
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asked by
Anonymous
in
Renting & Real Estate