is there anyway any program we can be garunteed a home loan or something like that.
2007-09-15 11:16:10 · 15 answers · asked by Anonymous in Politics & Government ➔ Military
There are a couple of banks out there that off loans to people with not so good credit or that will offer advice to you to help you for the next 6 months help you get into a home. Veteran's Affairs offers a great guarantee that covers 100% w/ zero down payment to the veteran and rates as of Friday were @ 6.125% for 30y fixed. How bad is your credit. You should try some of the following;
Bank of America
Chase
USAA
Navy Federal
Netbank
Suntrust
That's a couple, you can probably Yahoo search them and find 800#'s for all of them. Good luck!
2007-09-15 13:22:13 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You have really bad credit and want to buy a house? There is the VA home loan program but that has it's limits. This is a rough time in the mortgage business and I don't see it getting any better. I don't mean to sound like a jerk but if your husband is over there you owe it to him to get your financial act together. I know from personal experience that there is a financial incentive to being in a combat zone. Capitalize on that extra money and pay off your debt. If you need to get into a credit counseling service but don't even think about taking on a mortgage until your credit is straight.
2007-09-15 18:28:32 · answer #2 · answered by Paul B 2 · 0⤊ 0⤋
It's a tough situation to be sure. First thing I would do is call your creditors and explain the situation. Pull their "patriotic strings" a little and let them know the mails are slow and money is tight. It's not that you will not pay them, you just can't right now. See if they'll work out a payment plan with you. Very important that they know you are paying attention and co-operating with them. Ask for minimum payment reductions, less interest and to hold off on credit reporting until your husband is home and can take over the finances. Believe it or not, they will work with you if they know you are aware and on the case. When he is home, there's government programs that will help a soldier who has served with dignity and honor.
2007-09-15 18:30:27 · answer #3 · answered by ToolManJobber 6 · 0⤊ 0⤋
Not that I'm aware of. Your best option is to use the combat pay differential to help clean up your credit while he's deployed. Most creditors will work with you if you're paying SOMETHING. Clean up your credit, then you won't have a problem with getting a home loan. It DOES take time, but you didn't make it "bad" credit overnight.
2007-09-15 18:24:08 · answer #4 · answered by Amy S 6 · 1⤊ 0⤋
Make an appointment with a base financial couselor at family services. However, be prepared to hear answers, solutions and budget recomendations that you may not like or want to do. Keep in mind that the couselors are there for a reason and thier suggestions are probably in your best interest and in the interest in fixing your problem. Even though you may not like what they are saying. Good luck!
2007-09-15 18:29:34 · answer #5 · answered by Tincan Navy 4 · 0⤊ 0⤋
Im sorry for you and your husband's situation. But the federal government cares more about people in prison than they do about US soldiers and their families. Heres a Donny Rumsfeld comment, Rumsfeld to GIs’ families: I’m not Santa Claus! Instead of going into a rant on this horrible administration who betrayed our country I will just say good luck and give this advice. Try a Credit Union on a military base near you. Pentagon FCU may be able to help. Take Care and I hope u see your husband soon
https://www.penfed.org/index.asp
2007-09-15 18:33:48 · answer #6 · answered by ? 3 · 0⤊ 2⤋
My husband does mortages, I asked him if he knows any programs and he says he may be able to help you with a VA loan. He said he would be more than happy to give you information about it. You can call him at work Monday Morning. Old Town Mortage 502-452-1200....Austin....and it does not matter what state you live in.
2007-09-15 19:50:36 · answer #7 · answered by MissV 2 · 0⤊ 1⤋
if your a first time buyer the VA has a great program for you. the VA loan has very low intrest and they approve 9 out of 10 loan applications. i think the intrest is about 5.5% or just a little higher. and since your military you should go with USAA banking. it's only for military person's and they also have great loans for houseing. it's www.usaa.com. hope i helped you.
2007-09-15 18:27:09 · answer #8 · answered by kailuaboy 2 · 1⤊ 1⤋
Check out Dave Ramsey. He has a daily radio program and a site on the web. He has a system to help you figure out how to pay your way out of debt. It is not a free giveaway, but it does WORK. You've gotten yourselves into it, now you will have to get yourselves out of it.
2007-09-15 18:30:36 · answer #9 · answered by Ben H 5 · 0⤊ 0⤋
the VA loan, however, if your credit really is that bad you may not qualify for much, if anything.
Fix your credit first. No reason you can't be talking every cent of his special pays: FSH., HSP/IDP and using that to pay off your credit card debt or any other debt you have.
2007-09-15 18:24:00 · answer #10 · answered by Mrsjvb 7 · 5⤊ 0⤋