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I had cancer in 2004, and due to the cost of treatment and my reduced ability to work, my credit took a real beating. I want to purchase a home, and am curious if the documentation of what happened will carry any weight in explaining why things are the way they are. I had good credit until that point, and have no new debt.

2006-07-06 22:41:05 · 5 answers · asked by Anonymous in Business & Finance Credit

No securities or investments. I had to cash out my 401 k and sell a property willed to me, as well as liquidate all savings just to stay in treatment, and I had insurance. I was tapped out, and am just starting to recover.

2006-07-06 22:48:08 · update #1

5 answers

I'm sorry for what you had to go through and I hope you have beaten the cancer.

I don't know how much weight the documentation will carry since most banks seem so impersonal. Your best bet may be trying with a credit union. Credit unions seem to work a little harder for people.

I would suggest going to the site I've listed and do some reading in the mortgage forum. There are many people that post in there that have been through some hard knocks and discuss which banks or credit unions have been the best to work with.

Good luck to you and I hope you manage to buy a home soon.

2006-07-07 00:04:09 · answer #1 · answered by echo 7 · 0 0

The powers that be do not care about your bad luck. However, you will have to start over. It can be done. I had the worst credit in the world a few years ago and now I have the best credit. ( Sorry to tell you it took about 12 years to get where I'm at today ) Also sorry to hear about your cancer. Watch your diet, don't smoke, stay trim and hopefully you'll be around for many years. You've been through the worst stress in the world. Getting your credit back should seem easy now.

2006-07-10 19:07:32 · answer #2 · answered by Anonymous · 0 0

I wish I had a more positive answer for you but I don't. The credit world is brutal, there is no sympathy at all.

I have worked in credit for a few years and I have been in tears listening to what people have gone through but I still could not approve them.

You need to build your credit, start with credit cards show you can handle a balance. I wish you luck but you really need to talk to a financial advisor

2006-07-07 05:49:45 · answer #3 · answered by KRISTY 2 · 0 0

As long as you have a regular income and can prove you can afford it. Be real careful about discrimination. Good luck with everything.

2006-07-07 01:23:20 · answer #4 · answered by cindycara 2 · 0 0

hmm well do you have any securities at the moment

2006-07-06 22:43:51 · answer #5 · answered by Anonymous · 0 0

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