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can an owner quick claim a lease purchase to enble me to bill my credit

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Icon Mini Profile clarkdmc2





Joined: 16 Oct 2008

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Post Posted: Thu Oct 16, 2008 9:03 am    Post subject: can an owner quick claim a lease purchase to enble me to bil
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I am trying to find out if FHA or hud will help with a lease purchase. I havew been informed by equifax I do not have a score because I do not have six accounts active only two
Icon Mini Profile greg1
greg1




Joined: 29 Jan 2008

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Location: Chillicothe, OH
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Post Posted: Thu Oct 16, 2008 1:57 pm    Post subject:
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FHA allows an applicant with no credit score to obtain a mortgage by using alternative credit to verify credit history. Alternative credit is defined by anything you pay on a monthly basis that can be verified either through a written letter stating the details of the length of time and payment history or it may also be requred that they communicate with a credit bureau service provider who will place the creditors on a residential mortgage credit report that is used in qualifying you for this loan.

Ideally you would pay at least 1-2 of the bills for 12-24 months. Some lenders may requre less or more than that.

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Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

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Location: Nevada
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Post Posted: Thu Oct 16, 2008 9:56 pm    Post subject:
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Hi clarkdmc!

I agree with Greg Phillips. You can ask for a residential mortgage credit report. I hope this will help.

Thanks.
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