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my husband and I are wanting to buy a home. The only thing is that our credit scores suck. My is 500 and his 580. Everybody is telling us there is no way we would get one. We haven't contacted a realtor yet, but it they are going to laugh us out of the office, we aren't even going to bother. Anybody have any thoughts? thanks

Work on repairing your credit first. There are a few companies that can help you do that but BEWARE! Most of them are not good. They will get things temporarily off your reports and after you pay them the items reappear but they do not. You can do it yourself by challenging items on you reports a few at a time. Some will be removed and some will not! Get a secured credit card from your bank and pay it in full early each month. It will take at least six months to get your scores significantly improved. Putting down a large amount (20%) on your home will help also. No income verification and lenders will be less paranoid with equity already in a home from the beginning! Do not worry. Prices will not be going up soon.

Sub: #1 posted on Tue, 12/22/2009 - 11:17

Frogpatch Frogpatch
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