Hello Barb,
Because of the current conditions in our economy, banks have taken further precautions in their lending practices. They want to make sure that the mortgagee will not default so they are looking very carefully at credit. They have more and higher standards than ever before. Your only option, in my opinion, would be a cash purchase or a land contract or lease purchase where that individual seller doesn't care about checking your credit. But that is highly improbable.

I would suggest that you put off any purchase at the moment and work with a professional to clean up your credit. Most lenders will help you by advising you on which bills to clean up first. For example, doctor bills rarely affect credit scores whereas credit cards will. I have had an associate in the lending business work with several of my clients who had credit issues. It took several months but ultimately those clients purchased homes.

Let me know if you have further questions...good luck Barb.

Pam Aubry
RE/MAX Executives
Perrysburg, OH

Barb,

That's an interesting question. I've heard of trust deeds, although that is not standard here in Ohio. I've never heard of anyone being able to own a home without a credit check, and certainly have not heard of any programs to assist you in this. Many times title companies are trustees for a trust deed (or deed of trust), so you may want to contact one of them. I wish I could be of more help to you, I'm just as curious as you are to hear other responses.