"He was approved for 150,00 and purchased a 3 family."

Sounds like a great future reo. Let us know when it is back on the market.

Would you lend money to someone that has a history of not paying it back?

Handyk,

Talk to your lender about FHA. It looks at things other than credit score.

Unfortunately, credit scores often reflect real life and if your score is reflective of how you manage money, then it's going to be difficult.

A lender I know has access to loan programs that even those in bankruptcy may qualify for (yes, even in this environment!). I'll be glad to have her call you...

I hope that helps.

Hi Handyk,

First we need to determine what you consider bad credit. Just recently one of my clients were approved for a home whose credit score was 575, however, his debt to income ration was great, he paid his bills on time for the last year and 5 months. He was approved for 150,00 and purchased a 3 family...So, the hitch is your credit score is not always the determining factor in "bad credit" or being able to get a mortgage. But, I will tell you that if you have a probalby under 550 you cant buy a house right now.

So, the answer would be Whats your entire credit history like?

Hope this helps.