Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me. Also, if you found this helpful please leave me a recommendation if you can!
Brian Nguyen Sr.
NMLS # 659743
Looks like you've received a lot of good advice here -- one of the great things about the Trulia community!
As advised by others, your best bet is to find a great Buyer's Agent to represent you in your home search and purchase -- and have them refer Lender(s) for you to speak with that can review your situation and offer practical, actionable suggestions as to what loan programs you do or could qualify for -- and what you would need to do in the way of credit repair (if any) to get ready to apply.
If you aren't working with anyone, and would like me to assist you, please call or email me through my web site.
Broker, Tartan Properties
Pace-Milton-Pensacola-Gulf Breeze-Navarre Area
When you are ready to buy, the best place to start is to hire an Exclusive Buyer Agent to represent you. EBAs represent home buyers only, and work to get you the best price and most favorable terms. You can go to NAEBA.org for a referral to an EBA in your area.
I'm an EBA and I wrote a book called "Buying a Home: Don't Let Them Make a Monkey Out of You". It will be the best $6 you've ever spent. Follow the link below.
Best of luck!
At least you are honest.
The answer is yes, but you will likely need a substantial amount down.
Are we talking a few late payments here and there and scores in the low 600s?
Are we talking just flat don't pay anything on time, collections, etc. with a note at the bottom of the credit report that reads: Hold For Cash Reward?