I am also a songle mom, if that helps.
2007-04-10 12:41:49 · 4 answers · asked by Jessica B 1 in Business & Finance ➔ Credit
You won't be able to borrow more then the home value regardless of horrible credit. You can buy a home with one, about 580 is the bottom do get something resembling a decent loan.
It would be better to simply pay your bills ans improve your credit before you take on a house.
2007-04-10 12:47:09 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Won't happen. You will have to try to find a home loan, build equity in your house, then take out a HELOC to pay off your debts. If you credit rating is truly horrible, you need to take steps to improve it before you will qualify for a decent home mortgage.
Go see a couple mortgage lenders in your area and they will coach you on steps to take to get you back on track.
2007-04-10 12:48:05 · answer #2 · answered by godged 7 · 0⤊ 0⤋
Hi,
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2007-04-11 08:52:06 · answer #3 · answered by Anonymous · 0⤊ 0⤋
So you want to risk the house for UNSECURED debt. That is NEVER a good idea. If you have no money, credit cards can't touch you even with a court order. They can't take what you don't have.
2007-04-10 14:13:07 · answer #4 · answered by STEVEN F 7 · 0⤊ 0⤋