L S asked:


My wife and I are loking to buy a house very soon. I have pretty bad credit (550) and tired of paying rent. I have a three year old and one on the way. The apartment arent big enough for the four of us. I just got a new job (this month)making around 50,000. But, like I said I have bad credit. What is the best way to go about finding who will give me the best rate. What is the FHA loan? is lending tree any good? Should I try to find a lease to purchase / rent to own. I just dont know where to start. Any advice would be great thanks.

Margaret

hopes2graduate asked:


I have a low credit score from back when I was a kid. I have a 05 Jeep Wrangler I paid cash for and I just paid my grandmothers mortage off and she gave me her house. However, I gave it right back to her as a life estate. So Im not sure if I could qualify for a first time buyers plan. I dont want to put her house up as collateral. However, I need to borrow about 60k to purchase a fixer upper home in my area. I have a steady job, a cosigner (mom) and even plan on having at least one room mate. I also have 5% put back in savings, plus 3 months mortage and bills in savings. I tried Eloan/Lending Tree and was denied. I have no outstanding blls and have paid my rent on time for my luxury apartment, early for over a year which proves I can afford a smaller house note! Who should I turn to? (I definitly want less than 10% intrest) Thanks!
Which credit company has the most important score? I think my score is around 600. Its going up soon because I disputed a lot of charges that wasnt mine.

Elizabeth

Sofia asked:


My father lives in a rent- controlled apartment in NJ. He is lending me his name to rent an apartment in NYC, while I attend school- although the financial burden will be entirely mine. If he keeps his permanent residence in NJ, but rents this place for me- can he lose his rent- control status in NJ?

Sue

katieT asked:


Today many companies aside from lending insitutions rely on credit scores to access their risk. These companies include car insurance agencies, jobs, apartments, utilities, etc… Should this be allowed to persist? Should a credit score preclude a person from employment? Too me this doesn’t seem right, or how the credit system was supposed to be used. Yes, if someone has a bad credit score they shouldn’t be eilgble for loans and credit cards, but why should that impact your employment prospects or how much you pay for insurance? What if a person is a terrible and dangerous driver, but has good credit? I think the credit system should be reformed or done away with if it can’t be used in a responsible way. What do you think?

Chris