Question by chelsy132: How can you get into a home without any money down, bad credit and substancial debt? I have been in and out of the hospital and am unable to work , my husband makes over $ 55,000 a year but we are a family of 5 crammed into a 2 bedroom apt. He has student loans and bad credit from divorce. He had a home from his previous marriage, but I have never been a home owner. The question is how can we get out of this hole we are in and start moving on with our life? Iwant to try to be in a home b4 my 3 yr old son starts school.. because the schools where I currently live are unsatisfactory. we currently pay $ 650 a month in rent .. which is more than most of my friends house payments so I am wondering how do I get started trying to improve our situation and get into a home .. with $ 1,000 in debt each month and no way to possibly save for a down payment of any kind. We have paid our rent every month, that is one thing we do make sure gets paid . have been in and out of the hospital and am unable to work , though we have not asked or have been receiving any assistance what so ever. My conditions include spinal bone growths, organ failure and chronic pain , which makes it difficult to just care for my son and my 2 step sons (which are all under the age of 12), Since my doctors have told me I am physically unable to work right now options for going back to work are not really there. My husband works 12 hour days at his job, that he has held for over 7 years. We have 1 car( that is paid off). Our rent of $ 650 a month that we do pay does not include our utlities or anything else. Our phone bills, electric, cable, water all get paid as well and we have a good payment history with them as well. Our credit debt includes :my husbands government student loans, credit cards from his previous marriage, and one month of car insurance not paid by me after I went into the hospital. we are looking for a home in the $ 50-$ 100k price range .. so that we can make our payments. Best answer for How can you get into a home without any money down, bad credit and substancial debt?:
Answer by General Custer
see a bankruptcy attorney and your state housing authority
Answer by Ryan
Try going to a new home builder. Like getting a new car, a new home will probably be easier to get into than a used home. My wife are only 24 years old and also have bad credit (560 for me 580 for her) and debt ($ 3k owed to an apt. complex for broken lease among other things). Combined we only make about $ 40-45k a year which is less than your husband. The home builder that we were with couldn't get us financed in house with them but because they wanted our business our loan officer referred us to another company that got us approved. This company was actually able to use my wife's credit with my income level but this might have worked well for use because we work in the same company. To be honest with you your financial situation seems to balance out with ours because we have not kids but we do pay for a $ 450/mo. car note and our mortgage is $ 950/mo. as opposed to the $ 650 you say that your friends are paying for mortgage. The only thing you must be aware of is property taxes. Property taxes range in different areas but they may be anywhere from $ 2,000-$ 6,000 or more per year depending on where you live. Your lien holder can include this into your note as a monthly payment and many times will depending on your type of loan (conventional, fha, 80/20, etc.). Our taxes for our area are about $ 4,500 a year which puts us at about an additional $ 400/mo. bringing our total monthly payment to around $ 1350. If you think that getting a used house might be cheaper, do your research. We were able to buy our house for $ 130k which is about the price that the used homes were selling for. It only made sense to get a brand new house that cost as much as a used house. The figures however will still run the same with the same taxes and same interest rate only you might have a tougher time getting a loan because there is no one pushing to get your business except for the loan officer and/or real estate agent who can only do so much for you. New home builders have many contacts that make buying a house a possibility for anyone.
Answer by
Click There *** www.paydayloansfastcash.info *** Want a 1 Hour Cash Advance - Bad Credit Payday Loan provider that provides discreet and fast cash advance. This online payday loan lender required no faxing, provides privacy and an instant response to your application. On you part, you need to provide proof of steady income, social security number, account number and other minor details to get your application started. It is fast, and you can get up to 00 cash wired into your account in 1 hour. So if you are looking for a 1 Hour Cash Advance - Bad Credit Payday Loan lender than visit the link below to get your cash advance now! \r\rwww.paydayloansfastcash.info
http://theeaglesreport.com 1 Hour Cash Advance - Bad Credit Payday Loan
ATLANTA, Ga., Jul 9, 2012 (GlobeNewswire via COMTEX) -- via PRWEB - Personalloansforbadcredit.net, one of the leading U.S online aggregator services for personal loans for bad credit consumers, announces its new one hour approval turnaround time ... Unsecured Personal Loans Suitable for Bad Credit Borrowers - New One Hour ...
If you have bad credit, and have ever tried to borrow money, you must know how tough and complex the loan application process becomes for a bad credit holder. Lenders simply try not to given you any loan. This is because, your bad credit is treated as a risk, a risk in offering loans to you.
However, we at 1 Hour Payday Advance believe that it is not always that fault of the borrower in case of bad credit. We also believe that the financial condition of people keeps on improving and therefor someone who has bad credit due to past transactions will not necessarily have a bad credit score in future transactions. It is due to these believes, we always help bad credit holders borrow money in a simple, fast and convenient manner.
In case of urgency, we help them borrow 1 hour loans for bad credit despite their bad credit score.
Moreover, since we are associated with leading lenders, we know the benefits of borrowing money from different lenders which results in low rate and flexible terms. Therefore, when you apply to us, we chose a particular lender and its loan service, in such a way that it suits to your specific needs.
1 Hour Payday Advance helps you borrow an amount up to $ 1500 through 1 hour loans for bad credit. You get a time of up to 30 days to repay this loan. Remember, you have bad credit but if you repay this loan as per repayment schedule, your credit score will improve automatically which will help you in future borrowings.
So apply right away. Related 1 hour loans for bad credit- Have Bad Credit Borrow Money in 1 Hour Topics
No comments:
Post a Comment