How can I buy a houuse with bad credit and a recent repo on a car ? In less than 1 month?

Answer 1

Don't.

Find an inexpensive rental, move in, and get your financial house in order before purchasing your living house. In the long run, you'll be in much better shape and, probably, much happier not worrying about finances.

Buying the house now means instant gratification, but long term hurt. You will be paying high interest and locked into a sub-prime loan. Once you're in a sub-prime loan, the financial cards are stacked against you. It's very hard to get out.

Make an appointment with Consumer Counseling in your area. Start paying your bills on time. Establish solid credit for a couple years. Then it will make sense for you to go house shopping.

Trust me. I've been there. It's much better to bite the bullet, deal with the financial issues, and come out healed on the other side. It's a whole different world not screening calls, not looking out the window to make sure the car hasn't been towed off by the repo guy, and getting zero-percent credit card offers in the mail daily! It's much nicer being in control of my spending and finances.

Good luck!

Answer 2

Ok the first thing is the bad credit. Most banks wont allow a credit score of under 450-500. The car wont be an issue except lowering your credit. On credit reports banks only look at the score, amount of late payments on home loans and your total bills currently being payed.Loans for the most part are done through banks and it can be tire-ding calling each bank and seeing what their guidelines are plus every time your credit is ran it goes down. You best bet (and this cost a lil more) is to seek a loan company or a mortgage broker, these companies know what place will do what with what. Also some of these companies ( if they cant get your loan for you) offer FREE credit repair information because they get commission and want your money when you do get that loan.

Answer 3

Why a month? People with good credit don't make a spur - of - the - moment decision to buy a house. They plan ahead, accumulate down payment money over months or years, get their credit score straightened out, research housing prices in the area, and arrange financing before they start shopping for a house. That's why they have good credit: they realize their financial life is a long-term, not a short-term issue.

If you buy a house before straightening out your finances you'll pay a much higher interest rate which will mean you pay much more for your house over the period of the mortgage.

Answer 4

Bad credit is one of the worst problems to have... however there exists a solution.

I will hereby talk from my personal experience.

I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :

http://umgarticles.atspace.com/debt-consolidation.htm

if it helps kindly remember me in your voting!.. cheers!

Answer 5

You need credit score higher than 600 to get a mortgage. The next option is to find an owner that would finance you. The easiest thing is to pay CASH or large down payment.

Answer 6

If you can't keep a car how are you going to make a house payment? I'm not trying to be rude I just don't think it's wise, if you're already having money issues, to buy a house.

Answer 7

There is a whole sector that serves those with bad credit. Fill out the free evaluation form at

www.totaldebtsolutionsllc.com

and put that sector to work for you.

Answer 8

Keep trying don,t give up go to a mortgage broker they will find someone to lend you the money good luck

Answer 9

Pay high interest. Pay cash. Buy from someone whose willing to finance.
Get co-signer.

Answer 10

C A S H