Aug
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Mike R asked:
I am getting divorced.Once my wife was no longer living with me, she was unable to intercept the mail, and the phone calls, and I found out that she had not been paying most of the bills. She also had bounced ALOT of checks. I have been working to get things paid off, and only have one $7500 hospital bill that I didn’t find out about untill the hospital sued me. I have set up a payment plan with the lawyers. Needless to say my credit report isn’t pretty. I make about $50,000 a year, and I am wondering if there are any loan programs that would take into account my situation and my efforts to pay my outstanding debts. I would love to be able to buy a home for me and my children, and would appreciate any info I could get.
By the way, If you are wondering how this all happened to me, it is a long story that involves drugs on my wife’s part, and a whole lot of denial on my part.
Sphere: Related ContentI am getting divorced.Once my wife was no longer living with me, she was unable to intercept the mail, and the phone calls, and I found out that she had not been paying most of the bills. She also had bounced ALOT of checks. I have been working to get things paid off, and only have one $7500 hospital bill that I didn’t find out about untill the hospital sued me. I have set up a payment plan with the lawyers. Needless to say my credit report isn’t pretty. I make about $50,000 a year, and I am wondering if there are any loan programs that would take into account my situation and my efforts to pay my outstanding debts. I would love to be able to buy a home for me and my children, and would appreciate any info I could get.
By the way, If you are wondering how this all happened to me, it is a long story that involves drugs on my wife’s part, and a whole lot of denial on my part.
Tags: Bad Credit, Checks, Credit Report, Denial, Drugs, Home Loan, Hospital Bill, Lawyers, Loan Programs, Love, Mail, Outstanding Debts, Whole Lot
August 16th, 2008 at 11:40 pm
there is always a way to get financing, but can you afford the high interest rates is the question.
if the deal makes sense, even hard money lenders (private money) would finance most of the money. email for a list of hard money lenders
otherwise, any broker would find you a loan and offer it to you to look at and accept or reject depending on your needs and qualifications and the home specifics.
August 18th, 2008 at 12:34 am
Good luck to you regardless….and trust things will improve!
August 19th, 2008 at 5:15 pm
things happen in the people live and i am happy to hear, that everything is back in order in your live.
medical bills are not a big deal with the lenders, they know, that if you don’t pay hospital, they take you to the court.
you will bay your dream house, but it will take a little time for you to reestablish good credit . keep the record of every letter you received from all your credit companies that you have paid, your divorce papers and call every credit card and tell them that you are not responsible for your wife future credit obligations.
check your credit and update your information if is not correct.
there is so many mortgage programs available nowadays, but the better your credit , the better mortgage you will get.
don’t change your job and save 3-5% for down payment. you will have good change to apply for FHA loan , but be prepare to write a lot letters of explanations.
in 1 year you will be ready to buy your home for you and your family. good luck to you! the worst is over
August 22nd, 2008 at 2:36 pm
I agree with slara, A LOT of mortgage companies will finance your home even with bad credit. The interest rate may be more but they will do it. The largest bank in the country for mortgages is Wells Fargo Bank. Call your local office and speak to rep.
My suggestion is if you can wait a little while is to go onto the myfico.com website and order the suze orman kit for about $50.00. It will guide you through the BEST credit SELF-repairing process I think there is around (no I do not get any kickbacks from them, although I probably should) and go through it. But do it before going to a mortgage broker and don’t tell them that you did…GL - drop me an email and let me know how you make out…
August 23rd, 2008 at 8:49 pm
Try to clean your credit report and repair your credit:
How to Clean Up Credit Report
Step-by-Step Credit Repair Guide
August 27th, 2008 at 3:53 am
Yes, you can get a loan to clear this. Check these articles out:
Unsecured Debt Consolidation Loan For All
Regain your financial status with Debt Consolidation Loans
Debt Consolidation Loan for Bad Credit
August 30th, 2008 at 4:29 am
Each country,city I believe have some type of program that you can probably qualify for ask around
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