Buying or Selling a Home/credit problems

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Expert: - 6/30/2006


Question
We had excellent credit before 9/11 caused job losses and we got heavily in CC debt.  My husband is now finishing chirporactic college and we will want to relocate for him to start his practice.  I have paid/settled almost $30k in debt but I know our credit must be horrible.  We have been renting since he began school, but would like to buy when we move.  Should we try for owner financing? Lease with option?  Prior to his schooling we owned a home.  What are your other suggestions for our credit situation?
Thanks.

Answer
Some states have special "First Time Buyers" programs to help people buy their home. In some of those states, if you have not owned your home within the last five years, you are considered a 'FIRST TIME BUYER.' Check it out.

Talk to a mortgage broker or bank lender to see if you are qualified to buy a house and what is the price limit they would be willing to finance you.

I do wish you well.

Dick Dennis             dixiedee13@aol.com

www.OldProblemSolver.com

Buying or Selling a Home

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Dick Dennis

Expertise

With more than 41 years as a real estate broker, I can solve most any problem presented. If I can`t, I do my research. Problems with mortgages, trust deeds, foreclosures, odd ways of conveying titles. Most any good Realtor can answer questions satisfactorily, but I answer questions that most cannot. Also, ask about my hard-copy newsletter, The Landed Gentry. It can also be sent to you via PDF.

Experience

Solving real estate problems for 37 years.

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National Association of Realtors

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Publishes The Landed Gentry, guest writer in Who's Who in Creative Real Estate, First Tuesday, Financial Freedom and many newspapers

Education/Credentials
e-Pro Realtor, Certified Distressed Property Expert, Who's Who in Creative Real Estate

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