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Getting a home loan with lousy credit
Article Toolsby Elke C
For whatever the reason that has resulted in a "lousy" credit rating, make sure you are not acting out of desperation.
Watch out for institutions and people willing to lend you money too easily. Do the math. Figure out how much you will pay in total once you are finished paying off your loan based on the interest rate. It may be more than you can afford and make you worse off than before. Don't be in a position where your short term solution results in only prolonging the time when you will pay off your debt and even adding more to your debt by the large interest payments.
Take to reputable institutions and also a certified accountant. Sometimes it may even be in your benefit to declare bankruptcy. Donald Trump has had money problems in the past and he came out alright. Sometimes putting yourself in more debt is not the answer.
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Getting a home loan with lousy credit
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