Madant17,

It has been sometime since your post. Hope you are better off now. If not, I can show you some options that let you know the law is really on your side as a consumer! This can help you repair your credit and hopes of owning a home! Hope to hear from you soon!

I have a great mini series on my blog about understanding credit scoring... check it out.

I wrote about this on my website. Feel free to check it out and contact if you have more questions or have some interests in the program.

There are several programs out there to be used together.

However, there are more to consider than just being able to afford rent.

You can get into your own home. Goto this non-profit organization called NACA. Their website NACA.com will help you get started. It's a long process, but these folks are for real. Lastly, there is no fee for using this program and you'll get the best interest rate out there.

Don't focus on getting a home yet, prices will most likely stay low, long enough for you to fix your score and get a good rate. Instead, try working with someone or do it yourself, fix your credit and put yourself in position to really get a nice place on your terms. Don't rush to get in over your head.

Not on your life...sorry. I doubt you could get a mortgage, fix your crdit with time and attentiveness.

I am not a Real Estate Pro, I'm an Investor.

If you needed a home in california, what me and my agent would do is set you up on a lease to own option, I would ask if you had any money a deposit, find the perfect home for you, basically you would own the property but its setup as a lease, any repairs on the property woulde be done by you as the indirect owner of the property.

any questions please contact me at bross44@yahoo.com My name is Bob

Home buying in 75034 means that you want Frisco. You'll have to go out a little further to rural areas like Aubrey, Little Elm, some of The Colony, Oak Point, Crossroads, or Prosper to qualify for USDA. The home would have to be geographically in the 'rural' setting established by USDA. However, you've got to get that score up a bit. There are things you can do to show improvement in as little as 30 days. I suggest contacting my best lender, Rodney Anderson at Rodney Anderson Lending Services (A Division of Supreme Lending) at 972-985-5208. He's the #1 loan officer in the state of Texas and his staff can coach you through the necessary steps to improve your position to buy a home in 2009. I have a buyer in Denton going through some credit coaching right now. There is no judgement - only help. And, when they give the green light to go out and find a home, there is no problem getting you into a home that would put your payment at or below where you are leasing now.

Have a blessed day!
Ronda


Ronda Allen
Realtor and Certified Purchasing Manager
RE/MAX Dallas Suburbs

I would suggest find a peoperty that is rent while buying, talk to credit repair, and should not be to difficult to bring score up by end of lease

I have a lender who can help clients with a 580 midscore, is it possible you can get a co-borrower or work with her to help you bring your points up 20 pts. so you can buy your home? EMail me at: nicolearenas@ymail.com

http://dallasloanguy.com/docs/about_credit.pdf

Here is a free e-book about credit. I offer free consultations about credit and credit qualifying for a mortgage. But you have to read the book first.
Free to download, no gimmicks.

Madant17
No the min is 580 for USDA ( if available in your county) and that is with over 100% financing. Just have to live in the country.
It will not take much to bring up that credit score - that is unless you have a recent foreclosure of repo.
You may not even have to pay a repair company, Go to a lender that is wiling to work with you and tell you what to do. Look fo one that does USDA and FHA loans.
Margaret

The best thing for you to do is find a credit repair company. They can do wonders for your credit. It is actually easier to raise from the 560 range into the mid 600's than it is 600-700, if they understand the process. Interveiw a few as their are some taking advantage of the situation. Good luck.

The minimum score required in this market is 620 for an FHA with 3.5% down. other financing requires a 720.