More and more Americans are finding themselves in dire financial circumstances. Debt has reached historical highs and peoples’ credit scores are truly suffering. If you are one of the many thousands who are suffering from bad credit, you don’t have to give up on your dream of owning a home.
Purchasing a home is a complex process that allows for many different avenues of achievement. You can still own a home, even with bad credit, if you follow some of the advice found in this article.
Can You Really Purchase A Home On Bad Credit?
The short answer is “yes”. Home ownership is not exclusively the right of those with good credit. If you are planning to purchase a home with bad credit, you need to understand that your purchasing process will be a little bit different.
Poor credit will increase your interest rates on a mortgage. Translation: You will end paying more for the same house, just in interest, because the mortgage company sees you as a riskier debtor.
In some cases you may need to wait several years before... to continue reading please click here.
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