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Hi, I am currently selling our home because we can no longer afford it. We

Hi, I am currently selling our home because we can no longer afford it. We need a loan of only $100,000. I am currently working on my credit as it is around 590 right now. It is mostly medical bills (my wife had heart attack of age 38, I have had 3 surguries.) It is me, my wife, and my 10 year old son. I was looking in subprime loans, bridge loans, FHA loans, etc. I was even in the process of a scam loan that looked too good to be true. Can you help us out? Thank you.

Asked on 12:00 am May 17th 2011

Anonymous

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Subprime mortgages are not available these days after the economic crisis hit the mortgage market. Moreover, FHA loans are not available at a credit score of 590. You need to have a credit score of 620 in order to get a FHA loan. I will suggest you to improve your credit score and then apply for FHA loans. Moreover, with a number of delinquent account mentioned in your credit report, it will be difficult for you to qualify for a mortgage.

Answered on 1:31 am Feb 22nd 2012

adonis

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