Amy, Home Buyer in Lebanon, PA

I have pretty bad credit but I have a pretty good amount to put down. I am looking for owner finance. Anyone have any ideas?

Asked by Amy, Lebanon, PA Wed Apr 28, 2010

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Sarah, , Harrisburg, PA
Wed Apr 28, 2010
Good evening Amy,

You should know that you're not alone. As a REALTOR & buyer speciaist in this area, I have worked with local mortgage professionals to help buyers in your situation. It's very difficult to find owner financing in our market, and that certainly carries a risk as noted above.
There are state programs that you may qualify for as well. If you'd like further information, I'd be happy to help you.

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Alan Openshaw, Mortgage Broker Or Lender, Southampton, PA
Wed Apr 28, 2010
Hello Amy,

why not fix your credit. it usually can be done quickly and inexpensively unless your credit is completely destroyed. You have to be careful about the service you use. Some take your money and provide very little of a service. I have one that charges $70 set up then$30 a month and can usually clean up your report in 30-60 days,

Alan openshaw
Cornerstone Lending Inc
215 674 9059
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Dan Chase, Home Buyer, Texas City, TX
Wed Apr 28, 2010
Look at the blog below. It gives some good ideas about how to find rent or lease to own properties.…
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Amy, Home Buyer, Lebanon, PA
Wed Apr 28, 2010
Yeah. I mean it could be depends on the house that I would want to purchase. I have like 15 to 17 thousand to put down. and that would leave me enough to pay like 2 years of my morgage payment up front.
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What type of a home are you looking for? I am a Realtor in Lebanon County and could be of help to you if you are really ready to get a house! roni.funk@comcast .net
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Kent Gagon, Agent, Chandler, AZ
Wed Apr 28, 2010
Yes I have an Idea for you, contact a Realtor in your area and tell them your scenario, then meet with a qualified mortgage lender or financial institution to confirm that you cannot in fact get a loan. then when that is all said and done, go out an find a seller that has equity that will be willing to do a seller carryback loan sometimes referred to a wrap, if they have a mortgage on the home, but make sure that you are covered by setting up an escrow account where the payments go to so that they seller does not stop making payments while you are and whala one day you end up getting foreclosed on and don't know why. You need to talk with competent realtors and lenders and title people in your area. Perhaps even an attorney should you need that type of advice.
Best of luck on your home purchase.
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Dp2, , Virginia
Wed Apr 28, 2010
Is that "pretty good amount" greater than or equal to at least 20%?
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