no one want's to help. This house we are renting is perfect for my w/chair & they are willing to sale it to us. We had a Govt. loan & hubby got sick so bye bye house. That was 6yrs ago HELP! my son is Autistic & he needs the room also.
2006-10-15 16:12:41 · 5 answers · asked by wheels302001 1 in Home & Garden ➔ Other - Home & Garden
The Govt. Loan was an FHMA loan.
2006-10-15 16:25:41 · update #1
We tried Habitat for humanity twice & the first time they came did the interview & visited twice then sent us a letter stating they weren't building anymore houses for a few years. We tried again 2-3yrs later & guess what they already picked the family so to me they lied to us.
2006-10-15 16:51:11 · update #2
BTW we live in Tennessee.
2006-10-15 16:53:44 · update #3
What do you mean by Govt loan? I need more information/ I do consumer credit counseling. The first thing you should do is to check your credit report you can do that for free once a year @ www.annualcreditreport.com and dispute anything that is old or inaccurate on it. Do it for both you and your husband. Also go online and search for mortgage lenders such as Ameriquest. there ARE lenders who will lend with credit situations so for the first few years you will probably have high interest. Then refinance and get it down to where it is a reasonable rate. But the first step is to always check that credit report and clean it up as much as possible. DO NOT GO WITH THE "CREDIT REPAIR" AGENCIES. They are a scam and cannot clean up your credit any more than you can.
2006-10-15 16:22:22 · answer #1 · answered by yanta_1999 2 · 0⤊ 0⤋
You can talk to the owner and suggest a Rent To Buy Arrangement where a portion of the rent goes toward the purchase(But be aware that in this kind of arrangaement the rent is usally higher----unfortunately with bad credit you have very little chance of getting a Loan-.Finance for the house and this is what people who have no credit or bad credit do. The owner really loses nothing for continues to get monthly payments but when you for some reason do not make your payment(s)usually then in the agreement can evict you without having to repay the monies that actually were applied to ownership.without by law required to give much notice--so you need to make sure that you can afford the increased monthly--there will be a contract drawn up that states all- and if you cannot make a payment(s) the owner is not legally go through the eviction process which can take months. Have my doubts that you'll find free money--try the churches in your area they sometimes help or any charitable group in your area.If you can't afford this house try Habitat for the Homeless where they will build a house and morgage payments a bit lower than the average. Good Luck
2006-10-15 16:31:37 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If the owner is letting U use the rent as part of the deal then you'll be able 2 do it.a Mortage Lady will tell U all about it I used that program they use your rent that U paid for a year as a down payment.I'm sure you'll get your house my realtor & mortage ladys helped us.Good Luck
2006-10-15 16:17:33 · answer #3 · answered by sugarbdp1 6 · 0⤊ 0⤋
Instead of a Bank, try a Mortgage Broker. You will find them listed in the Yellow pages. My husband and I were turned down by all the banks but the Broker got us a mortgage at an excellent rate.
2006-10-15 16:19:33 · answer #4 · answered by Samlet 4 · 0⤊ 0⤋
Ask the owner to hold the note for you.
2006-10-15 16:22:06 · answer #5 · answered by lynne w 1 · 0⤊ 0⤋