I live in the Baltimore area
2007-03-18 07:44:47 · 5 answers · asked by CutieLNS 2 in Business & Finance ➔ Renting & Real Estate
You might consider trying to find a rent with option to buy. It may mean a little more paperwork for the owners but it could be presented as a win win. If you stop renting they still have the house. Maybe it could be sweetened by placing a larger deposit.
2007-03-18 07:56:12 · answer #1 · answered by ttpawpaw 7 · 0⤊ 0⤋
Well, most people don't want to rent their "beautiful home" to someone who has a history of not meeting their financial obligations.
If you have a great rental history of always paying on time, you can usually work around a bad credit history with landlords because their concern is mainly when you pay your rent, not when you pay your Visa bill.
Lenders don't want to loan a lot of money to someone who has a history of paying late or not at all. Would you?
Work on paying your bills on time for a while. Build your credit up.
There is always someone out there who is pimping a sub-prime loan that will get you in way over your head. Just because you can afford the payment (for now) doesn't mean you can actually afford that property. Buying only what you can afford may not be exciting, but it is the smart thing to do.
Make smart long-term financial decisions with your head and not your emotions.
2007-03-18 10:37:42 · answer #2 · answered by BoomChikkaBoom 6 · 0⤊ 0⤋
Yes I feel you....Imagine if you are the owner of a beautiful home and you had a choice? Money talks! Don't give up though....the best thing about the housing boom was that it had to come to an end and now foreclosures are up so if you do your homework and a lot of it...you just might be able to land a super deal! Hang in there. Read everything you can on the foreclosures topic.
2007-03-18 07:50:30 · answer #3 · answered by HonestBizPro 2 · 0⤊ 0⤋
Wait and save. Kill your credit cards. I'm not preaching (you should see my cards) but prices are coming down. Sub-prime lenders who lend 100% are going out of business so it will be hard to get a mortgage. When people buy high at 100% then the value of the house goes down and you're STUCK. You can't pay off your loan.
2007-03-18 07:51:30 · answer #4 · answered by conejito 2 · 0⤊ 0⤋
Go to http://www.mortgageawareness.com for free advice on getting a home loan with bad credit.
2007-03-18 09:54:56 · answer #5 · answered by Anonymous · 0⤊ 0⤋