Home Buying in Detroit>Question Details

Brownberryvi…, Home Buyer in Detroit, MI

Hello, I have really bad credit, when i last checked my score it was 558. Is there a way I can get a home loan?

Asked by Brownberryvirgo, Detroit, MI Sun Jul 15, 2012

I have really bad credit I am at about 558. And I have recently checked it. My current keeps getting broken into and I would like to buy a home else where. Do I have any chance of getting financing?

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I have responded to you privately via email. Thank You
0 votes Thank Flag Link Wed Jul 25, 2012
Yes you actually may have a fighting chance of getting into a new home, how is you income and do you have some money put away for a downpayment? For privacy, you can email your response to Dwilson3395@gmail.com.


Daniel Wilson Realtor

Keller Williams Northville MC

Office Phone (248) 380 8800

Cell Phone (313) 574 2354

Fax (248) 380 8200

Email Dwilson3395@gmail.com
0 votes Thank Flag Link Sun Jul 22, 2012
Not likely. The credit score is not just a number, but rather a designation of risk. To get a score that low you had to have earned it by overextending your self with credit, not paying your bills timely or not paying at all and maybe even forcing creditors to chase you down for payments or place judgements against you. No lender will look at that and clap their hands in excitement to give you a big loan knowing you likely will not pay based on your track record. I recommend seeking credit repair, try to pay down some debts and establish a track record of pay timeliness to help boost your score to a level where a lender can work with. Good Luck.
0 votes Thank Flag Link Sun Jul 15, 2012
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