Trying & unsure

Unsure Mother · #1 May 3, 2007, 11:04 AM

I have been on my own for several years and I just recently got divorced in 2003, now that I am ready to buy the home that is rent to buy......I have found that my credit score is very low (low 500's). I don't know what to do, I make $30,000 a year, the house is $180,000 and I love my house and don't want to lose it because of some thing from when I was married.

NOV16 · May 3, 2007, 12:40 PM

Quote:

Originally Posted by Unsure Mother

I have been on my own for several years and I just recently got divorced in 2003, now that I am ready to buy the home that is rent to buy......I have found that my credit score is very low (low 500's). I don't know what to do, I make $30,000 a year, the house is $180,000 and I love my house and don't want to lose it because of some thing from when I was married.

MAYBE YOU CAN IT ON LAND CONTRACT. ASK THE LANDLORD.

alkalineangel · May 3, 2007, 12:44 PM

well you can always take out an FHA loan, which wont count your credit score. But I was wondering how you could afford a 180,000 loan payment on 30,000/year. Our house was 127,000, and we make 50,000/year and I dont think we could do much more than that right now....Do you have a large down payment?

Unsure Mother · May 3, 2007, 01:05 PM

We have been in the home, since January and it is rent to own. I have help but I don't want to put him on the loan, because I make the most. I wish I had a large down payment but I didn't think I would have to buy it so soon and I just moved in, in January!



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