| Buying a house today seems like a good idea | | | | without warning or reason. Have lower available |
| You get to move in now. Its exciting. The house | | | | credit reduces your credit score. |
| you are thinking about buying is shiny and freshly | | | | The reason the housing market is so terrible right |
| painted. The landscaping looks great. Your family | | | | now is not because there aren't any people who |
| wants to help you move in. Your spouse and | | | | would like to buy the homes, its because there |
| children are excited. Anything seems possible. | | | | aren't any people who can qualify to buy the |
| Buying a house with bad credit is asking for | | | | homes. |
| trouble | | | | There is a solution |
| When you have bad credit, nobody will lend you | | | | For most people, buying a house with a good, |
| any money to buy a house. Or if they will, they | | | | safe, government insured loan is not as far away |
| will force you into one of two situations: | | | | as they think. If they take the right actions now |
| | | | to get their credit in order, it could take anywhere |
| 1. They charge you a boatload of money up front | | | | from a few months to a year or more. |
| 2. They set you up for failure later | | | | The hard part is knowing what the "right actions" |
| The first scenario covers loans with 30% down | | | | are. The right actions for most people are usually |
| payments, high mortgage insurance loans, | | | | a combination of disputing items on your credit |
| rent-to-own schemes, and the like. | | | | report, negotiating settlements for past due |
| The second scenario describes sub-prime loans | | | | balances, not buying anything new on credit, and |
| and rent-to-own schemes again (when you still | | | | establishing positive trade lines. |
| can't get qualified when your option is about to | | | | It can be helpful to have a professional do the |
| expire). | | | | detail work of credit repair for you. You can do it |
| You're not alone | | | | yourself, but it can be tedious and hard to |
| If you define bad credit as not being able to | | | | understand. If your goal is to buy a home, there |
| qualify for a good home loan, then the ranks of | | | | is only one company that is specifically designed |
| people with "bad credit" has swelled in the past | | | | to repair credit to government loan standards (a |
| couple of years. For many, it wasn't even their | | | | government insured loan is the best loan on the |
| fault. Credit card companies lowered credit limits | | | | market). |