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I am clueless!

I need to know if there are companies out there willing to finance someone with not so stellar credit. I'm a hard-working single mom, and I've taken steps recently to improve my credit, but thats a lengthy process. I need direction on what to do next. Thank-you!
  • September 18 2010 - Foley
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Answers (4)

Good for you on working to imorove your credit!

You could look into a Hard- Money Lender, Lease-Purchase Agreements, Owner-Financed Homes or If you own a home currently maybe doing a trade...

  • November 14 2012
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That's great advise.  First, determine exactly if your credit looks accurate.  Many times you will find collections or judgments that do not belong to you.
  • October 27 2010
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Lending is getting tighter by the day. Anymore you need good credit and need more down payment in many cases, but talk to a lender. Even if you can't qualify now, it will give you a starting point as to what you need to do to achieve your goals.

The reason we are in the mess we are right now is because lenders were lending to money to anyone with a pulse, even those who couldn't afford their payments.

It will behoove you in the long run to get your credit cleaned up, get  your down payment in order and be rest assured you are prepared for what will probably be the biggest investment of your lifetime.

There's nothing wrong with renting until you can comfortably afford your home. The market is still ever changing. Relax because prices could continue to drop for sometime.
  • September 18 2010
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Michelle,
Talk to a lender!  If you are not ready to purchase yet, a reputable lender will be able to tell you that and what you need to work on to get there!  Many even have programs that you can follow to become "approvable" in 12-18 months.  Even though guidlines are stricter these days, there are still great programs out there to help you get to the approval stage.

Good Luck!
  • September 18 2010
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