2006-12-20 04:17:55 · 10 answers · asked by Anonymous in Business & Finance ➔ Credit
I filed a chapter 7 bankruptcy. It has been discharged for 3 years. I have reestablish several lines of credit. I've had some identity theft and someone keeps trying to get credit in my name. I think just the number of inquiries that I have lowers my score tremendously.
2006-12-20 05:56:13 · update #1
Almost nowhere. NOTICE I said ALMOST. You'll be looking for a high interest "no doc" loan. Probably with a gift of equity from the current owner and a downpayment. You'll have to do a TON of research on this... but you can make it happen.
OR- you can buy a home on land contract: see the link http://en.wikipedia.org/wiki/Land_contract
2006-12-20 04:23:15 · answer #1 · answered by chicagodan1974 4 · 0⤊ 0⤋
Maybe Guido down at the local pool hall. 500 is a terrible Fico score. I lost a house, and had a bankruptcy a few years ago, and never went below 630. Best thing to do is get a few 'secured credit cards', where your credit line is equal to your cash deposit. They will accept almost anyone if they are protected by a cash deposit, in the form of a savings account. Capital One is a good start. No one knows that your card is secured, and it is reported the same as any other credit obligation. Just make sure you never go over 30 days late. A few years later, all the stuff has dropped off my credit, and its up to 730.
2006-12-20 04:34:12 · answer #2 · answered by badabingbob 3 · 0⤊ 0⤋
been there, done that... my problem was with a lousy mortgage company but the end result was the same. i don;t have a second mortgage though. i went through so many of the brokers who all promised they could refinance my house only to have them all fall away. my credit was mid 500's when i started. i ended up in a chapter 13 bankruptcy to save my house when every loan promise fell through and i was a week away from the auction block. act now and either sell while you may still be able to get some equity out or sell to a family member who will either rent back to you or sell back to you on a land contract or something (not usually a real situation unfortunately). check with a bankruptcy attorney and see if there is a way to go that route, but going that way you have to be able to afford the payments plus payments on all your other debts as drawn up in the chapter 13 plan. good luck, i hope things work out for you!
2016-05-23 00:59:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
BadaBing has good advice regarding the secure credit card to re-establish credit.
You may be able to qualify for a government housing initiative program depending on your income and where you want to live. There is often "no down payment" or low interest loans offered to low income people who are willing to live in and fix up inner city properties.
Your bank may also allow this *possibly* if you have been with them for a long time, and have a good steady income, despite the poor credit.
Any other place willing to help you more than likely will rip you off and take advantage of you. They will charge you HIGH interest rates, which makes your situation worse if you need that extra money to build your credit. Sometimes you can find the odd mortgage broker who is willing to work with you until you are in a better position though.
Aim to increase your credit score to a minimum of 650 to get a shot at a decent and viable rate.
Pay all debts on time, and pay more than the minimum. Pick up an extra job if you have to. Your bank may allow one black mark on your credit if your income is high enough or you have a large down payment.
2006-12-20 05:01:24 · answer #4 · answered by reginachick22 6 · 0⤊ 0⤋
Wow, good luck with that. There was an error on my report that drove my score to just under 600 and I was laughed at. Work to bring up that score, then try for a mortgage, or get someone with a better score to co-sign with you.
2006-12-20 04:26:58 · answer #5 · answered by tabithap 4 · 0⤊ 0⤋
go on line and search " mortgages with not such perfect credit".It will take some work to get a home loan with that score.it is not impossible but it will effect your intrest rate on a home loan.
2006-12-20 05:41:20 · answer #6 · answered by Bobbie 4 · 0⤊ 0⤋
The lowest score I ever saw financed was 511. The rate you will pay is astronomical. Work on raising your score first.
2006-12-20 04:21:24 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Try Accredit home 1 714 244 2459.See if they could hep you out. You never know.
2006-12-20 04:52:34 · answer #8 · answered by lorraine B 3 · 0⤊ 0⤋
fha loan - save your money
2006-12-20 04:23:39 · answer #9 · answered by Anonymous · 0⤊ 0⤋
from a crook!!!!!!
2006-12-20 04:23:52 · answer #10 · answered by boopsie 1 · 0⤊ 0⤋