Financing in 35150>Question Details

Froglady61, Renter in 35150

is there someone out there that helps people with bad credit puchase a home?

Asked by Froglady61, 35150 Sun Mar 20, 2011

0 votes Share Flag Financing in 35150

Help the community by answering this question:

Answers

6
I have contact info for a couple of credit repair people that are here in Alabama. I'd recommend talking to each and seeing what they recommend, what they can do. Usually (depending on your situation) they can get someone's credit scores up in 2-3 months. It will take work, doing what they tell you to and being diligent. It may also cost a little, but I've heard nothing but good things about them. If you'd like, get in touch and I will forward their information to you.

Aaron Sims
Weichert, Realtors-Access Realty
(205)834-0798
0 votes Thank Flag Link Sun Sep 30, 2012
Search for a hard money lender!!!

You will pay more but you will get the money to purchase your property no problem.
Read some articles about hard money lenders i the link below I provided you with.

Good luck.
Web Reference: http://hardmoneyloans.org
0 votes Thank Flag Link Sat Sep 29, 2012
For an FHA mortgage, most lenders require a 640+ credit score for the last 2-3 years now. Prospect Mortgage is one of the few direct lenders to offer an FHA 580-639 FICO loan program. Credit profile is a major factor in a mortgage approval. Generally, there should be no late payments, new collections accounts/charge-offs/liens/judgments in the last 12 months. HUD does require that all open collection accounts must be paid in full if their cumulative balances exceed $1,000.

Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified you purchase, you can submit your request online at http://www.rodneymason.com.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing
0 votes Thank Flag Link Sat Jul 14, 2012
The answer is "Yes". There are some really good lenders out there and there are some really bad ones and I hope you find yourself in the hands of someone in the first group. Here's a short story for you. I sat down with a young couple a little while back who had been denied a loan by a major bank. Discouraged but not detoured, they decided to give it another chance and called me. Sure enough their credit report was a Train Wreck which had credit scores on the low 500's, and with good reason. So one by one we went over their collections, charge-off's, and judgments. I gave them a road map to follow and they left my office. Not excepting to ever hear from them again, I received a phone call six months later and they asked for an appointment to come back and see me. Much to my surprise they had somehow managed to accomplish everything I instructed them to do. As the couple sat down at my desk, the husband leaned towards me at said, "We did what you told us, now can you do what you said?" Well that answer to that question, was "Yes" just like I've told you earlier in this post. The real question is: Will 2011 be the year to open the closet take out the skeletons and bury the bones? If so you will become a homeowner, that's a promise. You can read an article I wrote on this very subject at my blog that should help and make things more clear.
http://www.trulia.com/blog/george_raymondo/2011/03/can_someo…

Take care,

George Raymondo
American Financial Network, Inc
NMLS#: 242639
graymondo@afncorp.com
http://www.AFN-Loans.com
0 votes Thank Flag Link Mon Mar 21, 2011
Please be careful...don't pay anyone to help improve your credit score. Put yourself on a budget, pull your credit report and clean up anything that might be wrong or already taken care of. Close inactive accounts and pay off everything you can. Once you have paid off your debts and have some savings for down payment and an emergency fund, you will be in a much better place to start shopping for a house. Good luck!

Need help? Dave Ramsey is an awesome resource for getting your money on track.
Web Reference: http://www.daveramsey.com
0 votes Thank Flag Link Sun Mar 20, 2011
Don't be in such a hurry to buy...Here are some helpful blogs on home buying. The second blog i wrote is about how Homes Prices are going to stay low for a long time. That is good news for you!!

http://2000shortsales.blogspot.com/2011/01/buying-house-cost…
&
http://2000shortsales.blogspot.com/2011/01/cnn-money-decades…

Thank you,
Justin Ruzicka
The House-Guy!!
0 votes Thank Flag Link Sun Mar 20, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer