Asked by Howard Hardy, Waterford, MI • Fri May 11, 2012
My husband and I would like to own a home. I was recently told me could get FHA with bad credit. My credit, in particular, has a repossession on it and a few credit cards in default standing. I also have a high amount of student loans (that are not in default, but are not yet in repayment as I am still in school). My credit score depending on the report is between 530-581. His is a little bit higher than that. He also has some judgements against him. We would like a small loan, particularly 40k to 50k, and we have as of now about 18k down payment. Is this possible, of do we need to pay down our debt first?
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