2006-11-06 05:09:17 · 9 answers · asked by firewomanlindsea 1 in Business & Finance ➔ Renting & Real Estate
Ahh... well if you cant pay your debts now what makes you think you can pay a mortgage? Not to be mean! You should work on your debt, make sure all of the debt is not on one or two credit cards, and then find some loans that are for you... remember, you may have to pay PMI if you dont have a down payment!
2006-11-06 05:18:05 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Depends how much bad credit you have and what is. But as a buyer you can always put an offer in where the seller pays closing cost. And the way the market is I wouldn't be surprised for them to help out. Also, a lot of financing companies do 80/20 loans. With the bad credit if you show them that you are a payment plan with something in writing they let it go. Also, if your debt is credit cards than there is that smart loan where the consolidate your credit cards and mortgage into one. If you are int the Delaware or New Jersey e-mail melcentury21@yahoo.com I know a lot of loan officers.
2006-11-06 13:56:17 · answer #2 · answered by Melissa 2 · 0⤊ 0⤋
Don't do it. The no money down thing is a bad idea. You have to have two loans. The second is for your down, and at a high interest rate. Especially if you have bad credit. Just rent for a while. A lot of people have gotten foreclosed on because their payments go WAY up on their loans. This is because the have loans that have variable interest rates.
2006-11-06 13:15:30 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Go to a real estate broker, they can shop around for you and find a mortgage company who will take your loan. But your bad credit will hurt you as far as interest rates go, and you may have to refinance a time or two as your credit score and rating go up in order to get your payments lowered.
2006-11-06 13:13:42 · answer #4 · answered by smartypants909 7 · 0⤊ 0⤋
Save up some money and in the mean time improve your credit by paying things on time and paying things off then closing those accounts.
2006-11-06 13:10:36 · answer #5 · answered by tbear 5 · 0⤊ 0⤋
You will need proof of 2 years income. As long as that is ok and recent collections are paid you can qualify.
For more information on credit scores and qualifying check out my blog
2006-11-06 13:45:54 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Sat your an illegal alien and the government will give you everything you need, especially if the Dems win big tommorrow
2006-11-06 13:23:53 · answer #7 · answered by me 4 · 0⤊ 0⤋
Find you a sugar daddy who will hand over the cash
2006-11-06 13:11:38 · answer #8 · answered by sixcannonballs 5 · 0⤊ 0⤋
find a guy with a lot of money, and be real nice to him
2006-11-06 13:13:46 · answer #9 · answered by THEMENACE47 3 · 0⤊ 0⤋