Find a qualified and reliable loan officer that you can sit down with face to face. I see that you are from Torrance. I know a local lender in Torrance that can review your situation with you and if there is a way to qualify you, then he will do it.
Feel free to contact me if you would like the lender referral or see below. You can also go to my website for information on homes for sale in Torrance, including some very affordable new construction.
Countrywide Home Loans
The Gov. also has free counseling and advice for homebuyers....http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm
If you haven't actually seen your credit report, you might want to look and see what you can dispute or fix..
Homebuyer programs approved by the Gov. are good for making local contacts and learning about local
No one knows for sure what new programs are going to exist soon or which ones will change. It's a good time to make use of what is available and be in position for new opportunities..
Good House Hunting, Dunes
Mortgages are not readily available these days for people with bad credit who have shown no willingness to fix their problems and get their finances in order. Remember, owning a home is a privelege not a right, and with all the homes going into foreclosures these days lenders are not in a hurry to lend out money to those they deem not worthy. Even with the economic stimulus money being released into the financial markets, the empahasis on lending going forward is going to be on SUSTAINED homeownership, not making everyone into a homeowner.
My best advice I can give you is to speak to someone local and reputable to find out where you stand now, and if you're not in a position to qualify now then find out what you need to do in the next 6-12 months to put yourself in a good position to become qualified. Set a plan and stick to it religiously and you will get your mortgage at some point
Best of luck!
I am a mortgage broker. If I can be of service, please let me know!
877-238-6324 Ext 704