Old sayings don't stick around because they're false... they stick to our psyche because not only are they true - but we don't adhere to them & eventually find out they are true....

Terri:
The best deal on the market for a single woman about to be a grandmother is the one she can afford - and is in the best working condition possible... unless of course you are handy with a hammer & know your plumbing terminology.

Get in touch with a mortgage broker - get preapproved first - then of course - contact an agent in your area.

Take the steps necessary & get out in the market fully loaded and ready to do business.... You might be surprised at what you find (the traditional way).

Try leasing to own or rent to own. It usally requires only a security deposti and first months rent. If you like the home you are in, ask the owner to consider an offer like lease to own. BTW- I have a client that never goes to the bank and has awful credit. He's bought 4 homes like this from me.

My guess is the ads you are seeing are for tax sales on delinquent taxes. Yes, if it sound to good to be true, it probably is to good to be true.

California has a redemption period for 5 years where the tax payer can redeem the property.

There is a redemption period that the homeowner can pay you back the tax amount, plus interest and reclaim their property. This redemption period will vary by location. Most investors who do this are anticipating that the homeowner will redeem the property, but the investor will be paid the tax bill, plus interest.

In most cases, this results in a cash investment with return of principal and interest, not in the title to a property. The municipality wants its revenue and this is how it obtains the tax payments due.

HI Terri:

Yes, if it is too good to be true, then probably it is.

If a house is for sale due to non payment of taxes, or who knows whatever else the previous owner owes, if you purchase it or can purchase it at all, you'd inherit all that problems.

Sounds like you had some rough time but now has a plan to rebuild your life. With your credit problem, plans to go to college and a grandchild coming soon, I think you should stay back, be patient, and go on with the new plan for your life. While doing so, keep the spending down, fix your credit, and after you graduate, get a good job and then buy a house that you can truly afford. You really don't need another headache now.

Good Luck on all that you will be doing!

Sylvia .

Terri,
Unfortunately, Ruth is probably correct. Those ads on TV are usually for a service which expects you to pay money to "subscribe" to receive information on these great deals and/or "no money down" gurus trying to sell you a "seminar" of some sort. There is honestly no easy, quick answer. The first step is to talk to a mortgage professional to determine just how bad your credit is, and what can be done to correct it. See what you can qualify for and on what terms (right now and/or in the future). If you are serious about buying--feel that financial strain now (without risk) by pretending you are already making that mortgage payment--sock every penny you can in a high-yield savings account. I wish you the best of luck!

What you are probably seeing are ads for tax defaulted properties.

The amount you see in the ad is the amount necessary to bring the past due taxes current plus fees.

It requires cash in the full amount to bring the taxes current.

The property owner has a certain amount of time to remedy the default. Time periods vary by state. I believe California is 5 years. If the property owner doesn't remedy the default, you might get title to the property by way of a tax deed. It is pretty remote though.

Ruth's answer is a good one.

If it were really that easy, everyone would be doing it.

If it sounds too good to be true, it probably is. Talk with a lender and find out what they think.
Ruth