I have very bad credit, does anyone know of any mortgage programs who help people with bad credit buy a house?

Answer 1

The best thing for you to do is clean up yur credit (pay EVERY bill on time for at least a year) and at the same time, keep putting away some money so you'll have a good downpayment.

Banks and lenders already gave out high interest loans to folks with credit issues and now they are looking at a record number of forclosures (people who stopped paying their mortgage).

You seriously want to clean up your credit first. It will help you a lot in the long run and you don't have to wait forever to buy a home... couple, three years maybe (that's nothing!).

Answer 2

Don't lose hope if you're looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation.

Of course, some will cost you more money in the long run, but a home it's still one of the best investments that you can make, so, in many cases, it's worth it, especially for the first year of ownership.

You should shop around, and ask different lenders what kind of programs they have, and if they can help. Try to find a lender that specializes in bad credit mortgages. You can find some bad credit mortgage lenders listed on this page on and off:

http://www.axalda.info/bad-credit-mortgage.html

Answer 3

There are hundreds if not thousands of websites on the internet enumerating the ways to apply and receive home loan when you are plagued with bad credit issues. These sites help consumers with bad credit scores to increase the viability of their existing credit scores and set up loans regardless of their credit history.Companies that specialize in bad credit home loans; usually offer a wide range of options for consumers with bad creditBad credit hasn't stopped them from purchasing a home. There are several programs available for people with bad credit that helps to restore their credit status and to live debt free lives.

Answer 4

if you have bad credit, you shouldnt have a house.

Bad credit means that you do not plan and budget well, which means you are likely to default on your mortgage like all the chumps with ARMS are doing.

Work on the discipline it takes to get your credit score up, and once that is squared away, than you can look for a house.

Answer 5

Lenders are not looking for applicants with bad credit histories. They have enough foreclosures on their hands right now. I am not aware of any 'programs' which assist bad credit in obtaining loans. You are advised to work to clean your credit history while saving sufficient funds for a downpayment.

Answer 6

not one that will allow you to still be able to be able to afford your house down the road.
Clean up your credit ... save for a down payment ... then proceed to find a house and a lender.

Answer 7

i think it would be hard for you to get one ...