You're going to need to talk wtih a mortgage specialist. Check out the link for a resource.

Carol,

You did not say how bad, "bad" is. Assuming you mean credit scores in the 500's, you will best serve yourself if you do some credit repair. Often there are duplicate reports or paid accounts that still appear on your report. Many areas have not for profit organizations that offer First Time Homebuyer counseling and credit repair. They are usually affiliated with a federal or state mortgage program and often offer some type of grant upon completion of the program. The other route is a "hard money" loan. You will pay steep interest rates and points. Your best bet is to take it slow, do it right, get counseling. Avoid the quick fix and become an "A" rated consumer for life.

Carol -

What's making you want to buy now?

check out the link below - best 25 bucks you'll spend.

Please contact me off line at Gail@GailGladstone.com and i will recommend a broker who specializes in assisting with these situations.

Depends on your credit score. Contact a local mortgage broker review your file. HOWEVER if your scores below 620's recommend locate a good credit repair company the proceed. If you debt ratio is high pay off your credit cards reduce the balance HOWEVER never close those accounts. Your scores will increase.
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There are a variety of government loan programs that may be suitable to your needs. If your credit situation can be reasonably explained, it may be suitable as is. If not, it may need time and attention first. Either way, you should discuss this with an experienced mortgage specialist at a government-approved lender (such as my company), so that you have acces to the advice and loan programs that can help you achieve your goal of homeownership.