Ask and ye shall receive?

Question

My wife and I have horrible credit (I suffered a nasty break-up several years ago, and my ex-husband ruined my credit) We have great cash history, but have avoided credit. We are both employed and our combined income is 6500.00/month.We want to buy a beautiful house for our 4 kids, it's a 6 bedroom 3 bath in a great neighborhood, recently appraised at 505,000 but the owner will sell it to us for 450,000. He wants 300,000 and will carry the rest. We have no $ down, and a co-signer is not an option. Any advice or suggustions?

Answer 1

I can't see how that can work.  Without decent credit, and with no down, there is no way you can get a mortgage.

Your best bet is to try to get the seller to either give you a rent-to-own package, or hold the entire value as mortgage (same thing, really).

Answer 2

The first thing you need is the most current copy of all three credit bureaus.It's available for free form many providers but not all of them give you your score as well.

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