I need a bad cred.home loan w/ no $ down and i'm only 1 ,1/2 yrs out of foreclosure anyone have any ideas ?
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Answer:
Have you been following the housing crisis?
Did you listen to the Bush Speech this week?
Have you done your homework?
there will be no more sub-prime or creative or zero down loans. the government is stopping the giving of loans to less qualifed and bad credit risks.
you will need a min of 20% down..there are really no other options available right now. the mortgage crisis is under tight federal scrutiny...and will remain so for quite a while.
The Federal Reserve just deposited approx $70 Bill into banks to assist the banks in not going under.and they have been directed not to extend credit to those who do not have the stellar credit.
keep your credit clean and in 2 to 5 years you may be able to apply for a traditional home loan.
good luck :)
HI there,
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Good Luck
Maybe you need to work on your credit history a little longer. Otherwise, you are facing some steep interest rates and may not be able to afford the mortgage payments again.
I'm not interested in paying to bail you out again!
Hello friend good luck on your Loan search...
Beware of Advance fee Loan scams.
LOAN SCAM - Do Not Pay UpFront Fees.
Do not send money UpFront via Western Union or MoneyGram to any person or business in the UK, Nigeria or Canada in hopes of getting a loan. If you do you will learn a hard lesson & never see any Loan money.
Remember, if it sounds too good
to be true, it probably is! NEVER give out your personal information to strangers online! Always be on guard.
18 months out of foreclosure? And you have the stones to even think of another mortgage? You'll be laughed out of every office.
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