2006-12-18 03:32:55 · 6 answers · asked by kjadmartin 2 in Business & Finance ➔ Renting & Real Estate
Only if you have a nice rich friend.
Bad credit they can deal with. No bank account? Forget it.
2006-12-18 03:36:28 · answer #1 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋
yes u can buy a homoe with bad credit and no bank account if your paying for the home in cash, certified bank check. But if your trying to buy a home with bad credit to finance... the interest rate might be so outrageous that it would be better to clean up your credit by paying on time, clearing off bad debt. But the majority of bank and finance companies will not lend without a bank account. It's a form of history of where ur spending your money. There are many banks who offer a cking account with no fees in your area... even my children all have cking and saving once they get their first job. It's part of teaching them how to pay themselves first, handle money. So that by the time they go off to college, they can handle a budget, money and are better prepared to figure out student loans and working. Get a bank account with no fees and clean up your credit. U didn't damage it in a day so don't expect it to clear in a day either but u can do it. Good luck
2006-12-18 03:54:39 · answer #2 · answered by Staci 4 · 0⤊ 0⤋
Yes -- there are some "rent-to-own" schemes out there that purport to do this. You move in and start paying an exorbitantly high rent. A portion of the rent is dedicated to building equity in the house, but if you are late on a payment once, you lose all the equity you've built up, and if you miss a payment you get evicted. If you keep this up for 15 years or so, you own the house. The owner of the house believes it's likely that you'll move before the 15 years are up, or that you'll be late with a payment.
2006-12-18 04:52:57 · answer #3 · answered by jrr7_05_02 2 · 0⤊ 0⤋
If you could, the fees and interest rate would make the price prohibitive.
Because a mortgage is secured, you will probably find a lender. I don't see how you could qualify without a bank account however.
2006-12-18 03:37:56 · answer #4 · answered by jbowler 3 · 0⤊ 0⤋
Why would a lender loan you a sizable amount if you have failed to pay others? And how are you going to make the payment without a bank account?
2006-12-18 03:39:02 · answer #5 · answered by mike s 5 · 0⤊ 0⤋
bad credit....yes
No bank account..... not a chance
unless you are paying in cash
2006-12-18 03:42:31 · answer #6 · answered by Anonymous · 0⤊ 0⤋