Bad Credit Agency

Are there any lenders who will combine my debt and give me a new home loan? Really bad credit from 8 years ago

I got into a hole about 8 years ago with my credit and now I'm trying to buy a house. (less than 70,000) But my credit is a huge factor and I cant find any lenders that will work with me. My debt is about 20,000. I have a car loan now with a co-signer and payments are never late. Any info would be greatly appreciated.

Public Comments

1. If you have a poor credit score, it is difficult to get a loan from most banks and financial institutions. Credit is usually available only at a very high interest rate.Only few companies provide loan with poor credit score.Check out link for details. http://l4y.info/
2. There are lenders out there that will combine your debt with your new mortgage. However, the equity in the home must cover the debt you want to include. For example, if you buy the home for $70,000 and its worth $80,000, the bank may be able to include $10,000 of other debt into the loan. Your best bet would to talk to a mortgage broker to see what they can do for you.
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4. Yes, you may get a loan. Have seen lots of people asking info on bad credits. Well, if you need to get your<!--problem solved on bad credit, you must know to how to confront it. Many factors can contribute to someone getting a "bad credit" rating, among these are non-payment of an account or late payments over an extended length of time. Of course, Even if you have bad credit, you can get a loan. Take a look on http://badcredits.awardspace.com/homeloans.htm You may find want you want. You can easily be labelled as a bad credit risk by financial companies. This can make it more difficult to-->arrange loans or other finance, and usually means you will pay more interest on any loan you take out.
5. If the debt is 8 years old, you may want to look into having your credit report cleaned up. Most stuff (outside of a bankruptcy) only stays on your credit report for 7 years. If it's been that long, the stuff on your report might well be out of the state's statue of limitations, and therefore, can't be on it or considered regarding credit decisions, depending on where you are. Read more on the sort of stuff for your state. Debt consolidation is an option, and you should look into it. Just be careful about WHAT you're getting into. Some plans, because of their higher APR rates get you into more trouble than you were. Also, some lenders look poorly upon it later on. Some institutions believe that it really is a black mark. It will depend upon the types of deals that your particular company or lender work out, and of course, your own individual circumstance. For some with absolutely NO way out, debt consolidation is a welcome option. Take a good hard look at all the options and plans offered, and don't let a single company pressure you into something you just can't do. Make sure that you're comfortable with the plan offered before you commit to it. In any case, it doesn't hurt to investigate debt consolidation as an option. It doesn't cost you anything to find out more information about it. If you want a place to start your investigating, there's information and listings for debt consolidation providers on the page listed below. You'll probably find something of use there: http://axalda.info/debt-consolidation.html