Financing in Buffalo>Question Details

maheniraja, Home Buyer in Buffalo, NY

i want to buy a house in buffalo price around 45000.oo i dot have good credit meaning is bad please tel me any alternate way to buy a house

Asked by maheniraja, Buffalo, NY Fri Mar 29, 2013

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Craig Johnson’s answer
My name is Craig Johnson,

We have properties at that price point if you are interested. Are you looking for cash flow or are you looking to live there?

How many bedrooms? Bathrooms? Specific location.

Shoot me a email and I will help you with your search

ansoninvestment1@gmail.com

or call 716-374-5969
0 votes Thank Flag Link Sat Mar 30, 2013
Good morning maheniraja,

We see many credit reports with low credit scores (anything less than 620), and often many scores in the 500's. This is BAD credit. If you are one of the folks affected by this terrible economy, you have a low credit score and you have a dream of buying a home, here's some simple advice for you.

It is unlikely you could be approved for mortgage financing with that credit score at this time.

Beware of any mortgage professionals promising you an approval with such a low score. Wait on buying a home. I recommend you take the time to resolve your credit issues.

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://www.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.consumer.ftc.gov/articles/0058-credit-repair-how-…

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
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
1010 Northern Blvd. Suite 234
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
NMLS#3528

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1 vote Thank Flag Link Tue May 28, 2013
0 votes Thank Flag Link Mon May 27, 2013
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