re: No credit, First time home buyer

<blockquote><b>Quoting Mrs. Reynolds:</b>" Yeh all my debt is medical smurf   Doesnt change anything, heartless bastards...LOL"</blockquote>


DHs ex wife filed bankruptcy and he didn't so he got left with ALL the credit card debts etc. He never paid them because he was never in a place where he needed to and he was pissed because a lot of them were hers.
Now I have to deal with paying his ex wifes debts. It really sucks but that's what we have to do to buy a house. Just suck it up and get it out of the way.

Quoting Tat'd Bitch+3:" <blockquote><b>Quoting Mrs. Reynolds:</b>" Thennn find somewhere you enjoy renting. ... [snip!] ... lottery tickets  "</blockquote> We will have money once child support & disibility starts, it's just until then."

It's not just money, they look at your income to debt ratio.

Yeh I had meant once they fix their credit and can actually get a loan lol

I have over $80k from hospital stuff, I was a pedestrian in a drunk driving accident, had a lot of surgeries when I had no insurance   Almost to the point that it will roll off my credit though so just holding out for that honestly.

<blockquote><b>Quoting Mrs. Reynolds:</b>" Can you save up 20%+ of the houses you are looking at with disability and child support?"</blockquote>



For the down payment, yes then pay monthly "rent"

I don't want to go through the bank. I want to find a good enough house for us, pay a certain amount "down" & then monthly payments to the owner.

Quoting Tat'd Bitch+3:" I don't want to go through the bank. I want to find a good enough house for us, pay a certain amount "down" & then monthly payments to the owner."

Most "Rent to Own" is a complete scam. If they default on the mortgage, the house can be taken and you will lose everything.

You'll have to pay a lawyer to do a lot of work for you.

<blockquote><b>Quoting speaktruth2powr:</b>" Most "Rent to Own" is a complete scam. If they default on the mortgage, the house can be taken and you will lose everything. You'll have to pay a lawyer to do a lot of work for you."</blockquote>




How would I know it's a scam? Like before I cancel that out of my options.

Quoting Tat'd Bitch+3:" <blockquote><b>Quoting speaktruth2powr:</b>" Most "Rent to Own" is a complete scam. ... [snip!] ... to do a lot of work for you."</blockquote> How would I know it's a scam? Like before I cancel that out of my options."

There is no way you can know really.

Get a lawyer, have them write up a contract and have everyone involved sign it to get it notarized.

But even then, you never know...you may end up still losing out.

<blockquote><b>Quoting speaktruth2powr:</b>" There is no way you can know really. Get a lawyer, have them write up a contract and have everyone ... [snip!] ... and have everyone involved sign it to get it notarized. But even then, you never know...you may end up still losing out."</blockquote>




Could I do this rent to own with a realtor? Or do they just work with the bank?

Quoting Tat'd Bitch+3:" <blockquote><b>Quoting speaktruth2powr:</b>" There is no way you can know really. ... [snip!] ... up still losing out."</blockquote> Could I do this rent to own with a realtor? Or do they just work with the bank?"

No, they don't just work with straight up purchases, but it is so risky for them because they can be sued if anything happens.

<blockquote><b>Quoting speaktruth2powr:</b>" No, they don't just work with straight up purchases, but it is so risky for them because they can be sued if anything happens."</blockquote>




What about the mobile homes you "rent to own"?

Quoting Tat'd Bitch+3:" <blockquote><b>Quoting Rydicule91:</b>" I am in the same boat. Get ahold of a realtor. ... [snip!] ... Good luck!"</blockquote> I don't have a bank :/ No money, No bank. Back pay for child support/disability & taxes."

well you have to get the loan through a bank soooo get one! lol

<blockquote><b>Quoting Rydicule91:</b>" well you have to get the loan through a bank soooo get one! lol"</blockquote>



Read the rest of the post before posting plz!!

Quoting Tat'd Bitch+3:" <blockquote><b>Quoting speaktruth2powr:</b>" No, they don't just work with straight ... [snip!] ... for them because they can be sued if anything happens."</blockquote> What about the mobile homes you "rent to own"?"

they check your credit for those, too. We were looking into them awhile back.

Quoting Tat'd Bitch+3:" <blockquote><b>Quoting speaktruth2powr:</b>" No, they don't just work with straight ... [snip!] ... for them because they can be sued if anything happens."</blockquote> What about the mobile homes you "rent to own"?"

It's the same thing.