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What can I do if I have poor credit and little time to find a home or be homeless?

I am a store manager whom makes 39,000.00 a year, steady employment  single female in my 30's, poor credit, hardly any down payment money but I will lose my rental in 6 months with no options.  Renting is even difficult with poor credit.  Any help you could give me would be helpful.  I know I'm a sad case but I just need someone to help me so could you please look at my stuff or add some advice.  Thank you very much for your time.
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January 10 - US
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Answers (6)

If you have poor credit, maybe you should look into renting from a private owner for now so you can work on improving your credit. Many times home owners will overlook poor credit if the applicant has good rental/employment history. This will buy you time so you can repair your credit and purchase a home in the near future.

Check out these tips on improving your credit from MSN.com. I hope you find them helpful. Good luck!

http://money.msn.com/credit-rating/9-fast-fixes-for-your-credit-scores-liz-weston?wvsessionid=60e0f518e1e04530bf2000841f758089
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January 10
Look for a homeowner who is renting out a room.  You have rental history so that is a plus.  In my experience your not so good credit score won't hurt you that much in finding a rental especially if you have a positive rental history.

There are a handful of ways to improve your credit.

1) Pay down any debts (This lowers your DTI - debt to income)
2) Keep balances low on any credit cards.
3) Don't cancel any cards just yet (this turns an attempt at a short/quick fix into a long fix)
4) Don't open any new cards or get any new lines of credit.
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January 10
What are your current credit score? There might be a chance you can qualify for a home loan with your current credit scores. Lenders like myself are able to give out loans with scores as low as 580. So if you are at the range or above, you will have a chance at obtaining a loan. Otherwise, you should spend some time working on your credit. The simplest way to fix your credit is to pay off your debt and revolving credit balance on time. It can be difficult to find a mortgage without a down payment unless you are a veteran or seeking a USDA approved property. If these cases do happen to apply to you then you should seek a USDA or VA loan which does not require a down payment. Otherwise, the closest thing you will get is a 3.5% down payment that comes with an FHA loan. Either way, the best thing for you to do is to speak with a lender directly to see if you can get started on financing with your situation. There are lenders like myself that would be glad to speak with you to help you get the loan that you need. If you have any further questions or if you would like a loan, feel free to contact me.

Good Luck!
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January 10
Profile picture for wb54mls
 Greensboro, Maryland, caroline county
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January 10
Talk to a local lender or bank in your area.  They may be able to give you advice on how to quickly improve your credit score.
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January 10
What state are you in? I may have someone I could direct you to. 
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January 10
 
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