Hud Repo/ Bad Credit - Posted by John (Md.)

Posted by Bruce Lawson on March 14, 2001 at 10:50:02:

Hi John, what types of bumps and bruises on their credit reports? I have never seen a garnishment on wages for an auto repo, is it voluntary or court ordered? How much open debt is involved? One thing you could do is sell it on land/contract have them work off some of the final price in fixups you need done, and have a stipulation in the contract that they produce their own financing in one year. Then have them enroll in a credit repair program, one year will provide ample time to complete the repair then they get qualified for their own financing. Feel free to contact me if this sounds like something that may work for you. Goodluck

Bruce Lawson

Hud Repo/ Bad Credit - Posted by John (Md.)

Posted by John (Md.) on March 13, 2001 at 22:49:00:

I have a buyer interested in a HUD repo. Needs work. In Baltimore County, Md. $62k in $90-100+ neighborhood. Some new homes in neighborhood. Buyer(s): Husband’s salary $48k with garnishment for repo auto (@200 wk)/ Wife-$18k salary. Other bumps and bruises on credit report. Should I even bother looking for financing? Is there a better way?