There are credit managers out there that can help show you how to turn things around. It will take a couple of years, most likely but will change your life once you become financially mature. Dave Ramsey is a national speaker on debt retirement, It's called Financial Peace. You can do it and I strongly suggest you try to get things in order financially, when you do that other areas of your life will be more enjoyable.
I know Lewis Memorial Baptist Church on West Pea Ridge is doing the Dave Ramsey series, you can call an see if they are going to be doing another one. Their number is 304-736-7676. You can get your name of the list for the next set of classes, or go online and look at his successful program, it works!
Example, one of your collection creditors notices you bought a home, now you have something to fight for so they get aggressive and grab money out of your pay check/bank account, etc. How do you make your mortgage payment?
What I tell my clients is, you cannot borrow your way out of debt.
The mortgage guidelines are there to protect you from yourself, not the lender. We are required by law to lend money to the devil himself if he qualifies. So it isnâ€™t that lenders donâ€™t want to lend you money, you shouldnâ€™t borrow money if you have cash flow problems. THE Secret â€“ budget.
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
Does very poor mean 400, 500, 600, 700?
Let's assume it is 600.
What is pulling the score down?
It is possible that cleaning your record could prove very beneficial.
It is possible that re prioritizing and structuring your debt can produce significant improvements.
It is possible that a chronic history of late payment or defaults are the issues.
Without knowing the cause, a pathway to success is wishful thinking.
Contact a Huntington WV REALTOR and ask to be referred to a trusted LOCAL lender who can provide a proper analysis and get you on the right path.
As a result the lender and your REALTOR will have a projection of when you can start looking for YOUR house.
As Don suggested, all roads lead to improving your credit.
There will be bright shiny, temptations that will make you believe there is a short cut, a way to circumvent this requirement...but the are ALL designed to separate you from your hard earned money and will leave you without a house.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
Palm Harbor University High School distirct