OfflineI have been a nurse for 8yrs and make good money. My husband has also had the same job for 8yrs and also makes decent money. We only have one dependant and together we make a good living. Our credit is horrible from medical bills and a bad loan. I had developed a heart problem which required surgery and caused hard times for approx 2yrs. Now I am better but unable to buy a home. I feel I will be stuck renting forever. I have debated bankruptcy but I heard thats worse. Is there a way to make my dream come true and own a home? I can afford a monthly payment easily so how do I make someone else know this???
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My suggestion would be find a home that you like that is for rent and ask if the home owner is willing to do a lease with the option to purchase... You could prove you have money by showing them bank records and if you have been a good tenant you should have good resources to back you up.
With a lease option they may ask for a down payment but most owners can be negotiated out of it! If you need more info on it I will be glad to help you!
This is my suggestion!! Any one else have any better ideas??
stacie80, you could also look for an FSBO with seller-financing. Maybe you could even run an ad saying what you are looking for. Doesn't sound much different than an investor's ad only difference you'll be buying for yourself. Be optimistic. You'll make it work.
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Welcome to the DG family! We are happy to have you here. Both answers are exactly what you want to look into. Either do a rent-to-own or owner financing, it's a great time for you because there are so many homes out there and not enough qualified buyers, so you can take your time and pick out the one of your dreams. I just helped a friend of mine put a buyer in his house that was sitting on the market for over a year now, empty, with each payment draining his bank account. I told him to do this a year ago, but he wasn't very comfortable with the idea, now desperation prompted him to give it a try and it's a win/win for both him and the buyer who also had credit problems but makes a good income. It's all about helping people with their problem... Just find a motivated seller that's willing to help you become a homeowner, and don't stop til you do!
God bless,
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
Rina is spot on. Owner financing.
But really... anything that does not require bank financing.
HI, BE VERY CAREFUL WITH THE LEASE PURCHASES, IF A SELLER OF A HOME HAS A LEASE TO PURCHASE OFFER, MAKE SURE THE AGREEMENT STATES THAT YOU HAVE AT LEAST 5 YEARS OR LONGER TO EXERCIZE YOUR RIGHTS ON THE FINANCING IN ORDER TO PURCHASE THE HOME. IT IS IMPOSSIBLE TO LEASE/ PURCHASE IN 1 YR DUE TO 2 REASONS. #1 YOU CAN'T REPAIR YOUR CREDIT IN 1 YR #2 YOU CAN'T GET FINANCING IN 1 YR DUE TO BAD CREDIT. THEASE ARE SCAMS OF LANDLORDS TO GET RICH QUICK. DO NOT BE THE NEXT VICTIM!!!!!!!!!!!
Thank you for pointing out what could be a risk.
Stacy80,
don't be scared to look though. Hopefully you can find a seller willing to finance, since you are confident with being able to make monthly payments. Since you are currently putting your money into rent anyway, I don't think there is that much to lose. Just be cautious and make wise, knowledgable decisions.
Look into the forums on repairing your credit. It might not take as long as you think. This link might be helpful. http://deangraziosi.com/node/3944
Best wishes,
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249