a real place for loans for real bad credit?

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i have been trying to get a personal loan and a mortgage and no place absolutely no place will give me one now i know there are people out there who has worse credit than me and i can’t get a second chance please don’t suggest payday loans prosper american general or citifinancial they all advertise for bad credit but you still get turned down

i have been trying to get approved for a mortgage but with a low fico and no downpayment,its no happening. so i figured i would find a house w an option to buy which would give me and my familly time to clean up credit and still be in our own house. what do you think?

10 Comments
  1. Reply
    sadiemylady
    February 9, 2011 at 10:52 am

    I think I would try to do without whatever it is you want until I saved up the money, instead of trying to get more debt when you have bad credit already. You could just get in worse shape.

  2. Reply
    austinguy62
    February 9, 2011 at 11:52 am

    if your score is below 580 and you want 100% financing you won’t be able to get one. If its above you can. Do you know your score? If not go to annualcreditreport . com and you can get it for a small fee.

  3. Reply
    Joanie B
    February 9, 2011 at 12:21 pm

    If you are that bad of a risk, you should save your money and pay off your debts now, then start building your credit back up by purchasing small things like furniture and paying off ahead of time until you build your credit back up to good standing, but don’t go overboard with it and drown yourself in debt again. It will take time, but you have to be responsible enough to grab the bull by the horns and straighten out your problem now. I’m not trying to be mean about this but American General and Citifinance are about the easiest to get credit with along with Wells Fargo and American General is better than the other two.

  4. Reply
    paleblueshoe
    February 9, 2011 at 12:25 pm

    Start rebuilding your credit.
    Begin by taking $ 500.00 in to a bank. Deposit it and make a loan using that account as collateral. Set up regular monthly payments and make every single payment exactly on time until the loan is paid in full. Credit is established/rebuilt by showing that you can make REGULAR monthly payments over a period of time (paying the loan back early won’t help your bad credit).

    When you’ve paid back the first $ 500 loan, do the same thing over again, depositing more and borrowing more against the deposited amount (your collateral).

    Do it again.

    Don’t miss or be late with ANY payments with any creditor. If you see in advance that you’re going to be late on a payment, talk to the lender in advance. Many times they will help you figure out a way to keep your credit improving.

    Don’t borrow more than you can repay. If you can, set up a payroll deduction amount to be paid to your loan automatically.

  5. Reply
    The Walking Dead
    February 9, 2011 at 12:39 pm

    You should clean up the debt you have now first. It’s smart to buy a home if you can afford it. If you buy a home that you can’t afford, you’re looking at default, and then foreclosure. If that happens, your credit will look worse than it does now.

    You’d be smarter to raise your credit score now, even if it’s only a little bit. Then, when people start to default on their ARM and interest only loans in the next few years, you snatch one up at a killer price. Sure, you’ll have to wait for it, but it’ll be worth it.

    Don’t go for instant gratification unless it’s worth the long-term payoff. Good luck!

  6. Reply
    David D
    February 9, 2011 at 1:39 pm

    There may be something of use here.

  7. Reply
    Steve R
    February 9, 2011 at 2:32 pm

    don’t bother trying to buy a house if you have bad credit. You’ll be bankrupt within a year.

  8. Reply
    only-trying2help
    February 9, 2011 at 2:33 pm

    http://www.wesayes.com
    i think you’ll be glad you found this

  9. Reply
    ohnoslen
    February 9, 2011 at 2:49 pm

    You might want to try http://www.prosper.com.
    it’s actually other people lending you money instead of a bank.

  10. Reply
    KEJELJ
    February 9, 2011 at 3:20 pm

    Are you eligible to join a credit union? They are sometimes more lenient when it comes to credit history issues, and often more helpful in assisting to establish credit (or repair credit). They also operate online, mine does.

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