Single Mom With Two Teen Daughter And Have Bad Credit looking for a Home, What can i do ?
341399
Depending on how bad your credit is- there are many things you can do.  FHA loans are not credit score driven- but you have to clear all outstanding collections and judgements.  Otherwise you will need a downpayment.  Sometimes you can get seller concessions, there are many county programs out there to assist low income people...\nContact a mortgage broker and they can let you know what you may or may not qualify for after running your credit.
30136
i am in the same boat as you. far as i can tell right now you have to go and pay all the bills that got you bad credit and then go and like finance something or get a contract cell phone or get a small loan. something to build the credit back up. but that is all i can figure right now.
841481
All states, including Texas, offer a government sponsored first time home buyer program directed towards lower income buyers.  The buyer (or better yet ... the borrower) definitely needs to be a citizen.  If your credit is a mess, they usually offer credit counseling as a free service.  These government programs usually include down payment assistance in the form of a forgivable deferred loan (a loan you never have to pay back that goes away over a small number of years), which is much like a grant as long as you don't buy and sell your house fast.  Some states offer special interest rates too.  It usually works out to be a better than average deal if you can qualify.  I found the program for Texas in the link below.  Good luck!
1153442
Call a local mortgage broker (check your local yellow pages) and ask for a consultation, they are usually free or may charge a small fee (< $25)  for pulling your credit report..  Do not call a bank.  Mortgage brokers have many more programs available than banks and are more experienced in dealing with folks with troubled credit.  Anyway, they can pull up your credit and see how it looks.  It may not be as bad as you think.  If it is, there are programs such as FHA that are not credit score driven.  It always helps to have money saved up for a down payment, and while 100% loans can be obtained, you will most likely need a minimum of 3% down.  If you do not have the 3%, it can be in the form of a gift from family or friends.  There are 3rd party non-profit companies that you can get the donwpayment from, although FHA has been looking down on them lately.  Mainly b/c the 3% gets financed back into the loan....sort of...but I can't say that...LOL\n\nA good mortgage broker will have all of this information.  He/she should also be able to direct you on what to do if your credit needs a little repair.  If you are not ready to buy now, they can coach on what to do to be ready in 6 months or so.  Good luck with your dream of owning a home.
969637
Go to a mortgage broker, they are easier than banks and have a number of lending programs. Anyone can get an FHA mortgage 18 months out of bankruptcy, so I'm sure you can get a mortgage having not had any of these past issues! There may be a few things you need to touch up but I'm sure you can get a mortgage. You just have to know where to look....and don't take no for an answer.
685416
Hi Pat,\n\nI am a loan officer and you should easily be able to get a loan.  We are not allowed to discriminate because of age and with a credit score of an 850 you can get the best deals out there.  I would recommend you asking around and find a trusted mortgage broker who can search out the best loan for you.  Most brokers work with about 50-100 different lenders and can find you the best deal out there.  If you are in Texas I can help you and if you are in another state I can probably refer you to a good company.  Feel free to email me if you would like a referral.\n\nBy the way, if you do get into a house you can then do a reverse mortgage and pay off your loan or get some money back.  I specialize in reverse mortgages and would be happy to assist you with that also.
1068830
Go to credit counseling in your area.
1018869
Try to find a rent to own. My husband and I had bad credit and wanted our own home. \nWe looked in our daily local newspaper and found a 3 bedroom -2 bathroom ,2+ acres and all we had to do was sign the lease and give a 1000.00 down and we were in.\nA lot of rent to owns don't do a credit check. \nWe pay 640.00 a month and that includes insurance and water.\nWe pay 200.00 a yr in taxes. We have now been in our home 1 yr and loving it!
1013440
I can understand the situation you are in, I have dealt with credit scores like yours just about my entire time of being in the loan business.\n\nContact a mortgage broker that deals in sub-prime and Alt "A" loans. You might ask that question up front if they do sub-prime loans, you will save yourself lots of time.\n\nIf your parents are gonna sell their house to you at $105K that is the sales price. \n\nNormally relatives don't fare to well in money matters,especially when one owe the other, so I would get a mortgage on my own so my parents would be out of the picture and the family will stay together.\n\nAbout the down payment, let your mortgage broker see what type of loan you are qualified for. He will tell how much you need to bring to the table as a down payment to include any closing cost.\n\nNow once you have been pre-approved or your loan is approved I would suggest that you get a 2/28 or a 3/27 this is a loan that is amortized for 30 years. In other words you will be paying the loan as if it was for 30 years, which it is really. The numbers in front of the 30 indicate the number of years the loan is fixed. After that the loan go to an adjustable.\n\nThe way to get around the adjustable is once you approach the adjustable which ever one you decide to take, you should refinance your loan. You would have 2 or 3 years to get your credit  together. If nothing else pay your mortgage on time and you can refinance with an mortgage only loan.  \n\nI hope this had been of some use to you, good luck.\n\n"FIGHT ON"
528716
Go to your local FHA office, they would know what you can do.
771238
YES :)  There are companies that lend to those with bad credit. Ditech.com is one.\n\nThe interest rate may be nasty but you can get a mortgage. There are also companies that own homes that sell them to less than perfect credit.\n\nBuild your credit back up. Get a credit card and put everything you usually buy on it BUT PAY IT off every month. If you have judgments, pay them. Charge offs, wait and dispute them with the credit agency..most can't prove them because they are junk debt.\n\nGood Luck
1002174
Try your county Social Services Department.  They probably will be able to refer you to agencies appropriate for your particular need,  whether it be "crisis assistance" or "credit counseling"
89292
try contacting one of the three major credit bureaus, call a mortage company for the numbers.
541487
Suggestion: Go to 'rent to own' places and ask them if they will report your timely payments to the credit bureaus for you. Most of them will be happy to say yes, if you buy something of course. Get something small and simple and make the payments on it. Try to get 90 days, same as cash and knock it out before the 90 days are up. They report your good work and you can start rebuilding your credit. The bad stuff will still stick around for 7 years, but your efforts will help you in getting loans if you need them. Good luck to you!
974220
Try a local credit union or bank.  Open an account with them and stay in good standing for a time.  Then get a credit card with them.  The interest rate will be much lower and there are usually no application fees, etc. that other companies try to rip you off with.\n\nI gave this advice to my daughter who had no credit rating yet.  She has a card from her own credit union now and is not being ripped off. \n\nBest Wishes,\nSue
535276
www.naca.com\n\nThey are a non-profit housing advocacy group. They do their own financing, will work with you to get your credit back on track and they also work with banks.  They do fixed rate loans.  Check them out.  If you have bad credit your terms with a lender aren't going to be that great.  NACA isn't about profit, they are about getting people into houses.  They got their money by taking on Fleet Bank for predatory lending and they won.  Now they use that money to help others get into homes.  Good luck!
61930
My husband and I had the same problem two years back for the same reasons. We tried everything, even those ads that say they will loan you money with bad credit. It was a scam and we were out a few thousand dollars so be careful of those. We eventually found a person who was willing to do a land contract or lease to own. We leased the house we are in for two years and then when we bought it the money we paid in rent those two years was the down payment on the house. We went through his Credit Union and it was a fairly easy process. He was a HUGE help to us. So I would suggest that route if you can!\n Good luck and I hope all works out for you!