Hey!!

I'm right in the NJ/NY area and specialize in Sub-620 First Time Home Buyer Financing!! I have a couple of programs for individuals like yourself. I have listed the basics of the programs below:

580+ Credit requires 3.5% Down Payment
540+ Credit requires 5% Down Payment
500+ Credit requires 10% Down Payment

The key to approval for these programs are NO DEROGATORIES ON CREDIT within the last 6 Months.

Hi Joseph

I assumed you pulled a credit report. If so, dispute any account that should not be there, to the three major credit bureaus. (Experian/TransUnion/Equifax) Then call the collection's companies on the report.

*Note there name’s and phone’s numbers should be on the negative account. If not, call the credit bureau.

When you call the collection agencies, Say... "You would like to work on improving your credit”. Most collection agencies may offer to settle the debt. If so, do not make a payment over the phone, when they ask you too.

Say... "You would like for them to send you a settlement letter/bill before you make a payment".
(Make copy’s for your record)

Try to pay off as much as you can to improve your Fico score. If you are not paying your bill on time, start now. This will also help.

*note negative account’s can stay on your credit report for up to 7 yrs and bankruptcy 10yrs.

It would be in your best interest to work on your credit score before applying for a mortgage.
“BETTER SCORE, BETTER MORTGAGE RATE".

**Disclosure for any major financial decision, contact an accountant. I am not an accountant. This is only some strategies that have worked for many of my client.

Best of luck to you and your wife;

Please do not hesitate to contact me if you have any additional questions.

Natalie Padilla
Licensed Real Estate Agent
Npadilla.prealty@yahoo.com

Joseph,

I have worked with thousands of buyers on their credit. Many people don't know what to do because they have been given wrong advice in the past. Also, you may find out that your credit is not as bad as you think. Give me a call and I would be happy to advise you.

Edward Angelino
Power Express Mortgage Bankers
3609 E Tremont Ave
Bronx, NY 10465
718-904-0004.

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Good Luck!

Mildred Valentin, Realtor

Hi Joseph,

If you are looking to buy in the Bronx and you want to go with a brand name, I know that Bank of America works gives out loans in the Bronx.

Robin Lynch
Keller Williams Realty Group
914-315-6182

Dear Mr. Cummings,

I have had a few clients that found it difficult to find financing by a bank when they began their home search. However there are options available to you. It is a bit difficult to get a lender to approve you for financing in this market but do not be discouraged because it is not impossible. When the bank looks at a person's situation they not only look at the credit score but also other things such as down payment amount, job history, steps you have taken to fix your credit score, type of purchase area (stable neighborhood or at a risk for high foreclosure). etc.

I would recommend that you go to you local neighborhood bank and find out your options. But also prepare the following because they will ask for it. Prepare a list of you current expenses and sources of your income. If they decline to approve at least you will have an idea, to know how to improve you current situation.

Good luck on your home search. Please do not hesitate to contact me if you have any additional questions.

Nirmala Caraballo
Cruz Realty
Tel.: 646-479-7873
Email: nhcaraballo@yahoo.com

tough Search around but stick with web sites ranking lender performcance for example or industry web sites discussing advanace taking placec by lenders .

Msoliman

It would depend on how bad you and your wife's credit is.
Try Bank Manager of Wells Farge, Biaglo Maffettone at 914 285-1457 and tell him your situation and that I told you to call him. He will give you insight on what you could do.