How do I find a guaranteed home loan for bad credit with no down payment and amount of loan not limited?
Nov 16, 2009 in
Financial and Loan Tips
nikki
I am trying to find a home loan that I can get that is guaranteed for bad credit regardless of income, no money down payment and amount of home purchase is not limited.. We started into this home with a land contract. We put all of our money into it and now they are selling it right out from under us in just a few days. This has been checked and is legal. Please give me an answer as soon as possible.
I am trying to find a home loan that I can get that is guaranteed for bad credit regardless of income, no money down payment and amount of home purchase is not limited.. We started into this home with a land contract. We put all of our money into it and now they are selling it right out from under us in just a few days. This has been checked and is legal. Please give me an answer as soon as possible.
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10 comments
kja63 on November 16, 2009 at 10:18 pm
Loan shark?
SuperAndy dot com on November 17, 2009 at 9:08 pm
No such thing, every loan has a limit.
bewitching_green_fairy on November 19, 2009 at 12:17 pm
I don’t know, but if you do find a loan like that, the interest rate will probably be insanely high.
angeleebhere on November 22, 2009 at 5:30 pm
You are dreaming hun. There are some loans you might look into, but they are not what you described…you can look into a first time home buyer loan if this is your first home and also a FHA (federal housing authority) loan. The FHAs are not too popular because they require a lot of things be done to the home before they will approve the loan. It does not cost you anything to talk to a real estate agent and they can give you the best answers about home loans (its their business afterall) and where you can go to find out about them. Good luck. Angelee
Joe K on November 25, 2009 at 11:22 pm
You can find a home in the very poor areas of town where the crime is high, the schools are bad, and the ambulance comes 3 hours after you call 911. Because the landlords are despirate to sell their properties occupied, they are willing to take a chance of you not paying.
Typically you have to have some source of income to determine the amount of money you can borrow. Nobody is going to loan you $250,000 when you make only $6.15 an hour. Secondly nobody can guarantee you a loan when you cannot guarantee that you will pay it back. So how can you expect someone to promise to loan you money when you have broken the promise to pay the money back to someone else?
togashiyokuni2001 on November 28, 2009 at 1:19 pm
You should have had yourself put on title, then they couldn’t sell it out from under you. There are no guarantees for bad credit. You’re basically looking at paying a whole lot of money every month, either from PMI on an FHA loan, or from a really high interest rate on a subprime loan, and that’s if you get one. Good luck either way.
Grace777 on November 29, 2009 at 8:16 pm
Um…Did your contract specify land and house? If your contract specifies “land” and no house is mentioned, you’re the deed holders to the land and not the house.
Who is “they”? What exactly are they selling out from under your feet? The land or the house or both?
I’ve never heard of a loan without limits. Unless you’re a vet, loans are generally not gauranteed.
AJ on December 3, 2009 at 2:28 am
Only in your dreams could this happen
pontooner on December 3, 2009 at 2:21 pm
Accept the fact that your bad credit is your fault. Suck it up, be responsible and fix your bad credit. That means paying all those bills that you racked up and don’t feel like paying any more. Then keep all your payments current for about 12 months and look for a loan. It will be a lot easier with better terms. Good luck
kishaloy b on December 5, 2009 at 6:00 pm
Hi ,
Am a Mortgage Loan Officer and will be happy enough to get the loan to you .Please contact me at 480.751.4125 or write to me at.
regards,
kish