If you have recently had your heart set on buying your dream home but your mortgage company could not qualify you, its not the end of the world. There are more options to people with bad credit than ever before. The first order of business is to find out your credit score, if you havent already. Talk to a credit specialist and figure out a solid plan on how to improve your credit. This will prove to the mortgage company that you are serious about restoring your credit.
The next thing to do is research. Find a couple of mortgage brokers that specialize in people with credit issues. You can find a specialist in local real estate newspapers and (free) magazines. There advertisements are usually announce the following: We can help you buy a home regardless of credit history bad credit, no credit and foreclosures.
There are also programs such as purchasing a home with the option of buying. The homeowner or landlord will make a fair arrangement with you. You will be required to leave a down payment between the amounts of $3000 – $8000 (the higher the deposit, the less you have to pay monthly). If you pay consistently without any late payments, they will place a...
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