Home Buying in Indianapolis>Question Details

7333210, Home Buyer in Indianapolis, IN

Wife ruined my credit. I have verifiable income,never late on house pay. Is there an investor who would buy a 90k house and lease/option back to me?

Asked by 7333210, Indianapolis, IN Wed Feb 22, 2012

I have 10% down available. Never late on current FHA loan or credit card.

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Answers

2
First, settle any outstanding debt. If you owe money on collection accounts, charge-offs and/or judgments, make payment arrangements and get these accounts paid promptly.

Next, begin rebuilding your credit. If you have current accounts with good payment histories, or even some previous late-payment-blemishes, make sure you continue to pay those accounts on time. If you do not have any existing credit accounts then you'll need to establish several in order to create a viable credit history.

I have found that CONSUMER ACTION is an excellent resource for objective advice on all things credit related. You'll find free and sincere advice on everything from settling collection accounts to rebuilding credit to building credit from scratch on their website. http://consumer-action.org/

Beware of anyone offering to "repair" your credit! The Federal Trade Commission issued a stern warning last year that such offers are scams. Find more from the FTC HERE. http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre13.shtm


The best way to buy a home is to have a decent credit history combined with sufficient Income and Assets for a home purchase.

The best way to have a decent credit history is to settle negative outstanding obligations and pay all your bills on time for at least two years.


Trevor Curran
NMLS #40140
0 votes Thank Flag Link Sun Apr 29, 2012
Wow, nobody ever helped you on this? No clue about an investor, but you might be able to score a lease w/option to purchase. There are not a bunch out there but there are some. If you are still trying to figure things out, feel free to email me and we can try and find a path for you.
Regards
CA Aikman
caikman@callcarpenter.com
0 votes Thank Flag Link Sat Apr 28, 2012
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