This is the solution for any individual looking to improve their credit score to get approved on a mortgage or a loan. They have over a 95% success rate with their clientele and are there to serve the customer. Give them a call at 682-200-8800 or visit their site at http://www.creditmend247.com
You should prepare to buy though - settling debts, creating payment schedules, setting funds aside for the down payment, checking with local lenders about Ship and other programs for 1st time home buyers.
You can also dispute anything wrong on your credit report. Wrong things will be removed if you write to 3 credit agencies about those "wrongs".
Hope this helps,
Beachfront Realty, Inc.
It is unlikely you could be approved for mortgage financing with that credit score at this time.
Beware of any mortgage professionals promising you an approval with such a low score. Wait on buying a home. I recommend you take the time to resolve your credit issues.
First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.
Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.
I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website. http://consumer-action.org/
Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE. http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre13.shtm
The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.
The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.
Here are some news articles that you appreciate http://www.yourhome.org/2010/11/bad-credit-can-cost-you-abc-
So here's my advice to you, don't waste your negative energy on why your credit is low, or why you are tired of leasing. Lease another year, but in that year you can fix your credit.
Look at your credit and see where you are lacking. Pay off your debt as much as you can. Get a second job if you have to. You got yourself into this mess, sorry, so now get yourself out of it. Open a secured credit card. Make sure you are NEVER late from here on anything. Make sure you have 2 utilites under your name, you may have to pay deposit since your credit is low, but that's ok. Do not open new credit, apply for a new loan or close any of your accounts. This will lower your score. Also do not transfer balances either...it's the worse.
I also suggest put a freez on all your scores. This also will allow your fico to increase so creditors don't pull your credit whenever they want. I hope this helps. And be smart and start right. It's been 1 1/2 years for me and my fico has increased tremendously. I will be ready to buy next year.
You can read my 10 part blog post for Top 10 Credit Myths. Link below. Good luck!
For a simple 8 step system to repair your credit, along with step-by-step videos that walk you through the entire process easily, visit http://www.RepairCreditTrauma.com.
If you have any questions or need help, feel free to ask!
Have you overcome the financial hardship? If it is now resolved, then this would be the time to start working on improving your credit. I don't know of any lenders who can work with a credit score in the 400s, but I do know someone who may be able to help you work on your credit. It is not a quick fix, rather something you would need to work on over time.
If you would like contact info for the person who may be able to help, send me an email. Good luck.