Posted on: 13th Aug, 2009 06:47 am
My spouse developed cancer a few years ago and we lost our home and filed bankruptcy. Insurance did not cover the medical bills. The bankruptcy was discharged. We have one judgement from it. Our scores are in the 560's. We have an auto loan in excellent standing for 10 months. Our income is now at $120,000.00 annually. We would like to purchase a home for about $200,000.00. Is this possible?
can you get a loan? most likely, yes; but you will undoubtedly pay for the credit difficulties.
there are still lenders out there who'll take a flyer on people with challenged credit scores. you're more likely to be successful with that than most others whose incomes fall well short of your level.
there are still lenders out there who'll take a flyer on people with challenged credit scores. you're more likely to be successful with that than most others whose incomes fall well short of your level.
can you give me more information? i do not know where to start and do not want to continue paying thousands of dollars in rent.
unfortunately, no, i don't know of any of those lenders. you may find someone who knows more on this site, or you can certainly try doing an internet search.
I think you should go through local lenders
you can certainly try local lenders, but you'll undoubtedly find that they are averse to risk and unwilling to lend to you.
the better idea is to seek to find "hard-money" lenders or those who might still have the temerity to call themselves sub-prime. yes, they exist, and no, they are not offering pretty interest rates.
the better idea is to seek to find "hard-money" lenders or those who might still have the temerity to call themselves sub-prime. yes, they exist, and no, they are not offering pretty interest rates.