Need Help

gunzijjistaff · Joined: 07 Apr 2009 Posts: 458 6.81 Dollars($)

Hi,

Can any one tell me, Which mortgage options are there for those with poor credit?
I am trying to get answer to this question from long time.
Please any one can help me to know about that ?

Thanks.

jerry · Posted: Fri Apr 10, 2009 2:53 am Post subject:

Hi gunzijjistaff,

Gettting a bad credit loan at a time when the market is not doing well, can be difficult. Even if you do find one, you will have to pay interest at a rate higher than normal. You will also have to put down a lot of cash when closing. What is your credit score like?

Thanks,

Jerry

gmakerley · Posted: Fri Apr 10, 2009 10:36 am Post subject:

there are "hard money" lenders who will take a flyer on poor credit applicants. rates would be much higher than for decent credit. there are also local credit unions (perhaps - you have to shop around) that might take a flyer as well. you may also find some local community-type banks who'd be willing to make such loans.

there's slim pickins these days.

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