Profile picture for mss4562010

need a loan for a rent to own house. Loan is $2000.00 dollars.

Need a loan for a rent to own house. Will be moving this month.
Husband on ssi check and I'm unemployed. Friend has part time job. Is there a way we can get a loan? I have bad credit but don't know what the credit score is.
Husband don't have credit and neither does friend.

  • November 02 2010 - Terre Haute
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Answers (4)

I deal with low income buyers on a daily basis.   My best advice I could possibly give to you is beware of rent to own.  You will have no equity and no control over the loan.  You could be being scammed by someone if you don't know them, and with the credit issue, you really need to either clean up your credit, or file bankruptcy. 
Usually there is a non-profit credit counseling program in most areas.  Please, and I am saying please talk to them about your options and let them see what it is you want to "rent to own."
If you need help with housing usually  a local church or organization can help. 
Please look at those options before doing something rash that might end up making things worse for you.
  • November 04 2010
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Profile picture for wetdawgs
If you are in such poor financial shape, please don't sign any documents about 'rent to own'.   You aren't ready for this step.   They can sound wonderful, but usually the only  part that goes to "own" is the amount above and beyond market rent.

Consider finding a rental with lower rent and saving up a great downpayment while you work on getting your credit score up.
  • November 02 2010
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Try calling the number at the top left corner of this linked page.

http://www.wicaa.org/links.html
  • November 02 2010
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Be careful whom you are talking to. Don't go to those quick cash place, you may get some loan but you will never be able to pay back. Talk to your bank to see if they can help you.
  • November 02 2010
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