Where can I obtain a 1st time mortgage loan but with terrible credit and good income in Chicago?

Deal Score0

My credit score is really low because I chose to settle my credit cards with the lenders due to the economy and crazy interest on the cards. I just stopped paying them in order to get a settlement on them. Anyways, the cards will be paid off soon but my credit is super bad like 480….but I make good money at my job and I can afford the monthly mortgage. I really want to purchase a home….less than 100,000. Who does loans in this situation? Thanks!!

  1. Reply
    A A
    February 20, 2011 at 8:13 pm

    Call every bank in town, but stay away from the “consultants”. You’ll need 20% down or more and probably pay PMI (extra insurance). Then, you’ll refinance after a year or two of good payments.

  2. Reply
    February 20, 2011 at 8:24 pm


    I am answering your dire need of a loan because we can help you secure the loan you need.This is a registered,certfied and government approved lending company.We offer loan at a very convinient interest rate 3%.and loan offer ranges from $ 2,000 to $ 650,000.Have you been scammed,worry no more as we are here to give you the right answer to your financial problems.Why suffer in silence when you can come out of it by getting that assistance from us.Apply today and receive your loan in three working days to boost your financial status.Interested persons should contact us for more informations via :roseberryloan@yahoo.com

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  3. Reply
    February 20, 2011 at 9:01 pm

    Expect a high interest rate and a sizable down payment. A Real Estate Agent can refer you to several mortgage brokers for your situation. You need an agent to find a place anyway.

  4. Reply
    Doctor Deth
    February 20, 2011 at 9:28 pm

    forget it. you will never get a mortgage with a score that low, plus you will need 20% down payment and ore cash for closing costs check back in a few years when your score gets over 650- and you have $ 20,000+ saved

  5. Reply
    February 20, 2011 at 9:33 pm

    Not repeat not going to happen with that credit rating. Even FHA requires at least a 620. So stop wasting your time and pulling your credit score even farther down by applying again it is not going to happen

  6. Reply
    February 20, 2011 at 9:59 pm

    freecreditreport.hotusa.org – try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.

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