My husband & I found this gorgous home at a very reasonable price but the thing is our credit scores are not at where the lenders we've tried would like it to be. They want me to pay off my miscellanous debts so that they could finance 100% of the house and ask for no money down but that is going to take 2-3 months to pay off and we're afraid the house will be sold by that time. My husband has a mortgage under his name but we don't live there. My parents live there instead so the lenders we've talked to said we can't add him with me. We don't know what else we could do so I'm depending on anyone for more hopes. Does anyone know lenders who can work with our situition? Our credit scores are in the 500's and will be done with our miscellanous debts by June 2007 leaving us with just 2 car payments. Please, any serious responses would truly be appreciated. By the way, we are located in Minnesota. Thank you so much in advance.
2007-03-19 08:22:30 · 5 answers · asked by pangfvlx 3 in Family & Relationships ➔ Other - Family & Relationships
do you not have a down payment? If not I would not suggest buying a house. If you have that many bills why do you need another one... I would suggest selling the cars and buying used ones that you can pay cash for and getting rid of the car payments...
2007-03-19 08:28:14 · answer #1 · answered by Jessica M 3 · 0⤊ 0⤋
Can't you put in a "subject" offer? If it's accepted, then the sale only occurs after you have met the conditions, here being that you have your miscellaneous debts paid off. That way, the house is yours at a future date.
2007-03-19 08:27:29 · answer #2 · answered by SodaLicious 5 · 0⤊ 0⤋
try lendingtree.com. it's a basic site that you put a lil info into and they'll spit out competing bids for your business. if your credit is way low then you'll get denied and know to try somewhere else but that's a start to see if any of the basics will deal with you. or you might want to try calling your financial institution because they usually have financial planners that can help you set up a plan or find a company that will provide you with a mortgage.
2007-03-19 08:29:30 · answer #3 · answered by Anonymous · 0⤊ 0⤋
your trouble is that your husband owns a house, your credit scores suffer from this, too much going out and not enough coming in, ask them to add your stuff into the house and see if they will do that,,
2007-03-19 08:26:36 · answer #4 · answered by rich2481 7 · 0⤊ 0⤋
can your parents buy the house in their name and put you on the deed?
2007-03-19 08:34:05 · answer #5 · answered by sandibum 5 · 0⤊ 0⤋