Mark... what does horrible credit mean to you? Some people have horrible credit and don't realize they have horrible credit. Others think they have horrible credit and it is not so bad. And how old is the negative credit?
And have you considered using a credit repair company? There are hundreds of credit repair companies in the marketplace; however, most of them charge an arm and a leg and most of them are not reputable. There is one company that I have sent many many clients to because it is actually a law firm, their fees are minimal, and they do an incredible job! And there is always someone to actually speak! If you would like their information I would be glad to share it with you... simply click on my profile and email me directly.
Good credit is becoming a must. FHA is still forgiving to bad credit that is 2 years old or older meaning your last two years needs to be clean. Financing for homes, cars, etc has become harder to obtain so paying your bills and obligations on time is a must.