Ask Experts Questions for FREE Help !
Ask
    angelsfly's Avatar
    angelsfly Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 29, 2008, 12:04 PM
    Needs mortgage quickly
    Hi, I'm trying to purchase a single family home in Maryland, but our credit scores are below 580. We need to move quickly, due to bad tenants in the building. My husband is self employed and I just started working after a medical illness. We have credit issues and are working on correcting them but it will take time. Any help is appreciated.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #2

    Mar 29, 2008, 12:08 PM
    Hello a:

    You're going to need a hefty down payment... Or, you're just going to have to wait until your score is better.

    Your need to move quickly doesn't really matter.

    excon
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    Mar 29, 2008, 01:09 PM
    Most of the lenders in the sub prime market has went bankrupt so finding one is going to be harder. The larger down payment you have the better.
    The only real choice is to go to a mortgage broker and see if they can find one still doing a higher risk market.
    Treni's Avatar
    Treni Posts: 1, Reputation: 1
    New Member
    		  
    #4

    Apr 8, 2008, 02:36 PM
    SO the saying is not true that you can buy a house with bad credit and no money down?
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Mortgage broker vs. Mortgage Lender [ 3 Answers ]

What are the pro's and con's of using either a mortgage broker or going directly to the mortgage lender?

36 hours before I close mortgage company refuses to give mortgage? [ 5 Answers ]

I secured a deal for a home with the owner and got a signed contract a month ago. For sale by owner deal. Secured financing at 95%, with 5 % down. Did financing through a broker, and got a locked in deal with countrywide over 3 weeks ago. All is well, appraised for 100K over what I have...

Need answers quickly ! [ 1 Answers ]

OK now.. she's 16 and I'm 23, I know we're not supposed to have anything in common , and you can't think of anything that I would be interested in other than her physical attraction.. true but not entirely, she's very smart and mature, doesn't matter, I know.. I just want to know if it is OK in...

Please help quickly [ 4 Answers ]

Hi my name is Laura Hall, and I was born on the 21st of febraury and I need to no my future because I have been told I don't have a good life ahead please help. Laura

View more questions Search