Does anyone know where I can get a mortgage with bad credit?

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We need to get a loan early. We are in a lease agreement and the time itself is on you. We do things to improve our credit. Many neg completely and no one else has been paid. We thought our clients grew, but today we found that after all this time was only about 4 points. 579 536 505 are the three points. We have about 8900 in the house to buy investment rt. We still need to obtain a loan of 100%. I know that the interest is high, but we do not want to give up this house. If anyone can help please let me know. Thank you
Not ready for my next paycheck to get me out of debt, just a non-legitimate needs of the Bank with understanding and sympathy … Is this possible?

12 Comments
  1. Reply
    bkate7405
    January 22, 2011 at 8:58 pm

    sunshine mortgage gave me a loan and i do not have good credit. i had to put down 3%. good luck

  2. Reply
    golferwhoworks
    January 22, 2011 at 9:52 pm

    In order to get a 100% there are several things that must happen. First the score must get to 600 +. Second opt out and your scores will increase by 10 points in just 5 days. Opt out by calling 888-567-8688. Then call any open lender credit card you have and ask them to double your limit. Limit on the bank is important. If you owe $ 500 on a $ 5,000 limit good score — if you $ 4900 on a $ 5000 limit bad for your scores. Also dispute any negative reporting in your file.
    On a lease purchase part of your monthly should be going to the principal amount of the price.
    I am a mortgage banker in Tennessee

  3. Reply
    ci50158
    January 22, 2011 at 10:12 pm

    Try Countrywide. They gave me load with crappy credit.

  4. Reply
    porcelina_68
    January 22, 2011 at 10:21 pm

    Check with a mortgage broker. They will shop you around to different lenders, and find one for you.

  5. Reply
    Qpid59
    January 22, 2011 at 11:08 pm

    With scores in the mid to low 500 range, it will be almost impossible to find a conventional lender that will get a 100% loan for you. Private money is possible but most private lenders don’t do 100% financing with whats considered risky borrowers. I see you at least took steps to improve your credit score, however I would need to know what you did. There are a lot of misconceptions about credit. Many people are shocked to find thier credit score decreasing even though they have never made a late payment in thier lives. Others close accounts or payoff collection accounts only to find out thier credit score actually went down. In the end, the only two things that can increase your credit is smart spending and time. There are several companies out there that can remove things off of your credit report but only things that are erroneous. If you owe it, you cannot legally take it off. Also, many of these companies will ask for up front fees that can be quite pricey. I had one client that paid $ 5000. This is also illegal under the Credit Report Organizations Act. I have had clients have one of these companies remove tradelines off of thier credit reports, only to see them reappear a few months later. There are good companies that will help you with your credit situations and they only charge $ 60 to $ 100 a month. I have attached a link for you.

    You can also ask your landlord to carry a second mortgage. It is possible to get a loan for about 80% of the sales price and if your landlord is willing to become the bank on the 20% left over, then you can accomplish what you want. Your landlord would get 80% of the sales price up front and receive payments on the remaining 20%. After a year or two, you can refinance to pay him off. Not exactly the best way but it might be worth a try. I have seen people in your situation also find a new landlord that is willing to give them the same agreement as the previous landlord. The new landlord would buy the house, give you a new lease to own contract which would give you some more time to improve your credit rating. Check with a good mortgage broker in your area since laws vary from state to state. If you live in the western US then check out the link to a mortgage company I know that specializes on the subject.

    Also there are several mortgage brokers that will tell you to use opt-out to increase your credit score. This does not work. There is nothing in the fico, beacon, or empirica algorithm that addresses opt-out. All opt-out does is prevent your credit file from what are called “soft” inquiries so your information is not released to other outside entities such as credit card companies. Although, this will decrease the amount of junk mail you get, it does nothing for your score. Contact the credit bureaus for more info.

    Hope this helps.

  6. Reply
    Jimmy John
    January 22, 2011 at 11:31 pm

    Do you know someone who could lend you a 10% downpayment for you house ? It would help a lot.

    Or you can try your bank with a co-signer.

    Good luck !

  7. Reply
    Frank
    January 23, 2011 at 12:19 am

    hi
    If you want a legit online loans in 1 Hour.just try this and once approved your loan amount will be transferred directly to your checking account promptly, and securely. Now you’ll be able to use the cash for all your necessities.

    http://goodonlineloancompanies.com

    • processing 100% secure
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    Good luck! ….

  8. Reply
    Jillian
    January 23, 2011 at 12:53 am

    There are several companies out there that do grant loans to individuals with poor credit assuming you have a weekly paycheck. I would not advocate using this type of financial unless it is absolutely necessary. It can be very expensive especially the fees they charge.

    http://www.worldbestloans.com/

    However, there are also many, many loan sharks out there that will take your last dime with no remorse. You must be very careful in this area and check out every potential lender (better business bureau is a good source) and of course read the fine print very carefully.

  9. Reply
    Jon
    January 23, 2011 at 12:54 am

    Most lenders would willingly give a loan to someone with bad credit who has a job or collateral because
    they can charge you a much higher interest rate than someone with good credit and if you did default then they could
    take any collateral you pledged.

    for loan quotes
    https://www.loansandinsurances.com/

  10. Reply
    John
    January 23, 2011 at 1:51 am

    Hello ,
    One week before my friend was also searching for Bad credit loans he have worst credit i think below 500.
    He told me that when i was searching on Internet for Bad credit loan he found a site which contain link for Geniune for Bad credit Loan. He checked all links in that each link offer different interest rate and repayment time.
    My Friend got loan of 25000$ for 15 years on 3% interest rate which should be payed annually.
    Well you go to

    Dixiloan.com

    Then Go to “Bad Credit Loan”
    Check all links in that in search of lowest interest rates.
    Take Care
    Bye!

  11. Reply
    Greg
    January 23, 2011 at 2:10 am

    credit-report-free.totalh.com – try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.

  12. Reply
    Zain
    January 23, 2011 at 2:11 am

    http://loan-seeker.info/bad-credit-loans/ has a list of reputable loan providers, even if you do not have the best credit.

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