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clarkdmc2 · Joined: 16 Oct 2008 Posts: 1 1.28 Dollars($)

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

greg1 · Posted: Thu Oct 16, 2008 1:57 pm Post subject:

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.

jameshogg · Posted: Thu Oct 16, 2008 9:56 pm Post subject:

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