Posted by Joe on August 08, 2003 at 10:02:55:
I would look in the local paper to find someone offering a rent-to-own or land contract on a house. With that being said, make sure that any contract you enter into is reviewed by an attorney and filed with the courthouse. This will help you secure financing from a lender in the future if you make the payments on-time & the contract is recorded. Good luck…
bad credit help please - Posted by lewis jackson
Posted by lewis jackson on August 08, 2003 at 09:03:34:
my wife and i had to move and when we moved my credit went to crap.we moved from one state to another one 600 miles away and they forclosed on our home.so thats on our credit.someone bought for what we owed.i was unemployed for about 5 months when we moved here so our credit got messed up even more.we are doing really good here now.we moved because my wife was unemployed where we lived at and she wanted to come back here where she knew she could make good money.while she lived with me in the other state her credit got really messed up and now she has paid for all her past due bills.she still has three credit cards that were charged off.and also the forclosure her score is like 492.it should go up with all the stuff shes paid and they should come off the credit report sooner or later.my question is where can you find a lender or mortgage company willing to give someone a second chance.everyone we have tried has same as laughed us out of their office.we really want a house again and am paying 725.00 amonth for apartment now.our income a month is around 2500.00 to 3000.00 a month.we can afford a house but cant get a loan.we have about 2000.00 we could pay down.any help i would be very thankful.
Re: bad credit help please - Posted by Bruce Lawson
Posted by Bruce Lawson on September 03, 2003 at 10:19:21:
Hi Lewis,
I agree with Joe you should look around your area for sellers who will sell you a home under L/O or Land Contract. As you make all your payments on time you need to start working on repairing the damage because it will not go away until the the statute expires. It is time consuming and it requires patience but it can be done. The Fair Credit Reporting Act is on your side so use its contents.
Feel free to e-mail me for more information on the FCRA.
Sincerely,
Bruce Lawson