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70% Disabled veteran trying to stop renting and get a house, but have bad credit.

I was divorced in 2008 and in the process of the divorce I was stuck paying for all of my ex-wife and I's bills while also paying her insane amounts of money for support, and then after the divorce even more in support because her lawyer used pay stubs from when I was Deployed to Iraq and received part of an enlistment bonus to establish my income. I had no lawyer because every cent I had was getting poured into trying to keep current with what bills I did have.

I have defaulted on a Credit Card some 6 years ago, and also had 2 vehicle repossessions when the credit card maxed out and I couldn't afford to maintain the loans anymore. I was never able to keep up with the payments after the divorce and when I have tried to setup a payment program with them they want an insane amount of money per month that I simply cannot afford.

Fast forward to today, I am medically retired and 70% from the Army, however I've never been able to get that credit score back up. I've had a rocky last 2 years waiting for the VA to give me a rating decision so my utilities were paid whenever I could get the cash to them.

Now I'm stuck paying $1200 a month for 2 years (which I have never missed once) for a rental, when I would much prefer to own what I'm throwing that much a month into.

Is there any way to get a VA Loan with a bad credit score? I'm grossing $4,600 monthly and my wife is in the process of returning to the work force as well.
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February 21 - Metamora
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Answers (1)

Well, you have a lot going on for what sounds like a very extended length of time. You need to start with getting a credit report and score and seeing what damage has been done/reported. Then you need to start working on fixing and repairing it. Try opening 2-3 secured credit cards, paying off/settling collections. From the sounds of it you may want to hire a credit repair company to see about having the professionals handle it. I have someone I can recommend if you would like. Reach out via my profile.
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February 21
 
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70% Disabled veteran trying to stop renting and get a house, but have bad credit.
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