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    pamalapooh's Avatar
    pamalapooh Posts: 3, Reputation: 1
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    #1

    Sep 21, 2008, 12:28 AM
    Buying a house with no money down and bad credit from a divorce
    How can I start over and buy a house for me and my children with no money down with bad credit due to a divorce?
    pamalapooh's Avatar
    pamalapooh Posts: 3, Reputation: 1
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    #2

    Sep 21, 2008, 12:31 AM

    I know this is funny there is no hope lol
    ATYOURSERVICE's Avatar
    ATYOURSERVICE Posts: 246, Reputation: 13
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    #3

    Sep 21, 2008, 01:06 AM

    I agree. Not with no money down. Maybe with a co signer who has amazing credit.

    Work on rebuilding your credit now.

    You could looking to city and county programs as well. They sometimes can help especially single mothers and long time residents.
    Alhambra in California has a first time buyer program. YOu just have to be a resident of more than 5 years I believe.. possibly 7.
    pamalapooh's Avatar
    pamalapooh Posts: 3, Reputation: 1
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    #4

    Sep 21, 2008, 01:35 AM

    I am a single mother who was left with 2 teenage girls afte an 18 year marriage and wasn't permitted to work in those years. But yet I was left with all the debt. And bat heath. I know sad sob story... well I am no trying to give eveyone my sad sob story just trying to provide a home for my children. Its not an easy job. Especially with 2 teenagers who are so use to getting evety thing they want because daddy was a licenced genteal contractor in the state of Florida. And NO he is not paying child support like he is suppose to and no there is not much I am able to do about it as a single mom on who has illness due to abuese for tor the past 18 years. AND NO I AM NOT PUTTING THIS OUT THERE FOR PITTY OR SHAME... JUST TRYING TO FIGURE THINGS OUT. SO PLEASE Don't JUDGE ME. JUST PLEASE IF YOU HAVE SOMETHING THAT CAN HELP... PLEASE Help.
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
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    #5

    Sep 21, 2008, 10:35 AM

    You need to go to the local Child Support Agency and get dear old deadbeat dad to start paying child support for one. They will be most happy to help you collect this, and they are a totally free service. It only takes a few trips to their office, fill out paperwork, and you should start getting some support from him. After all, they are his kids and he has a legal obligation to support them. That's for starters.

    As far as getting a home with zero down, how do you intend on paying a mortgage, taxes, insurance on the home? You never said how you intended to pay for this home. You just stated how you want your own home. That's nice and all, but I'm talking reality here. Where are you presently living now? Your kids will soon be on their own shortly or will start working and still living at home. Not everyone can have a new home, some people must live in apartments and rent. Wanting is one thing, getting is another. Also, what sort of settlement did you get from him in the divorce? I would think you at least got some sort of rehabilitative alimony being married for 18 years and denied being able to go out and work during the marriage. You should have gotten some sort of lump sum settlement if he was that big a big shot contractor. Your attorney should have been able to negotiate a good settlement for you.

    I am not judging you, I am just trying to help figure out a way to help you help yourself.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #6

    Sep 21, 2008, 11:16 AM

    Hello pam:

    Fortunately, the market favors a person such as yourself. You're not going to be able to buy something conventionally. I'd look at foreclosures and/or a contract for deed, or even a lease with an option to buy.

    You should be able to find lots of distressed home owners willing to work with you.

    excon
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