How can I buy ahome with bad credit of a home 0-4000.00?

Question

I mean how can I buy a home with bad credit of 0-4000.00 in debt and only 600.00 a month in income. please reply

Answer 1

Honey, I'm sorry, but it will be quite a while until you are able to buy a home. I don't know how much debt that you have, but with a $600 a month income, you can't be paying it off too quickly. I don't know of a lender anywhere that will loan with such bad credit.Even if you did find a lender that would loan to you, the interest rate would be extremely high, and you probably owe too much on debts to afford a note. It is not hopeless--but here's a plan that will help you.
1)First, you may need to get another job for a while to help you pay down the debt.
2) Quit the credit cards and borrowing money. Take the debts with the highest interest first, and pay it down. Then, move on to the next debt, and so on. Keep doing this until your debt-to-income ratio (what you owe versus what you bring in) lowers.
3)Over time, you will see your credit score improve and your monthly expendable income increase. This will take a while, but it will be worth it. It took me seven years to buy my first home, but I did it against some rough odds stacked against me.

Lastly, here's some recommended reading:
"The Millionare Homeowner" by David Bach
This book will explain in a step-by-step manner how to break the cycle of renting and be on your way to being a homeowner.
GOOD LUCK! YOU CAN DO IT!!!

Answer 2

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 3

What country has homes that are zero? Or even 4k? If you make 600 bux a month you shouldnt be investing in real estate.

Most lenders wont loan under 30k. The income you make would have to be higher. I'd stay away from it, houses arent that cheap anywhere in the US anyway. Even Mexico they are higher, must be a rip off.

Answer 4

Talk to a realtor. They may be able to get you into a small condo, and they may know some mortgage brokers that specialize in challanged loans. Also, be careful maxing your self out on a house loan.