Can I buy a home with a credit score of 616?I am looking to buy a home in Clarksville Indiana for under $50,000 my credit score is a 616 and didn't know if I could be approved for a loan... Any help in this matter would be great.
Unfortunately, you'll have to wait until it gets listed with a REALTOR. The foreclosure process can take a long time -- sometimes years. Even once the foreclosure process is complete, it could get sold at auction to an investor or another bank. You should contact a local Realtor and let them know what you're interested in and they can keep an eye out for it.
My recommendation is that you specifically contact and agent that services the area you are looking for instead of this general forum. Alternatively, you can google established real estate agencies in your area, and reach out to one of the agents to begin a dialogue.... more
Sounds to me like either its overpriced, not marketed well, or has really bad pictures. Has your Realtor offered to host an Brokers Open or an Open House? You sound like you need feedback on the pricing of the home and a good way to get that is via a Brokers Open. How many homes have sold around you? What kind of competition do you have? What's the average sales price in your neighborhood? Are you receiving weekly reports on how many people are clicking your home on the internet & then CHOOSING not to call to see the property? There can be a lot of variables that can determine why you are not getting showings.... more
Rent to own is really not a good idea, therefore consider fixing whatever is preventing you from purchasing outright. Rent to own can be risky and one could stand to lose a bit of money, therefore do inform yourself well, and consider consulting with an attorney who specializes in real estate beforehand. If you haven't done so yet, visit with any licensed loan officer, see if you can buy outright, or simply continue renting until a purchase can be made.... more