Archive for the ‘mortgage’ tag
Bad Credit Mortgages
have to buy the home and credit is 588 what r my chances to get mortgages. bad credit because of divorce?
strong opinions! ex purified out of my acct 25k without my knowledge, my credit card, he was an authorized user, I walked away with the debt incurred by others, loans to repay, etc. I was not economically prudent. I pay $ 1400 in rent now. why not buy?
# 1 – Bad credit is not because of divorce. This is because not live up to the financial obligations which you have registered. # 2 – You do not need to buy a home. You want to buy a home. This unrealistic sense of need vs. want is probably what led to # 1 # 3 – If you want to eventually buy a home, go rent something cheap and clean up derogatory marks on your credit report. (Ie pay your debt.) So, save up a reasonable down payment (20% minimum) and shop for a reasonable home. A reasonable home is one with a 15-year fixed rate mortgage with a payment of up to 25% of your take home pay.