Credit issues are the primary reason we get from prospects that don't think they can buy a house. Sometimes this comes in the form of bad credit other times its bankruptcy or a foreclosure in their past. Unfortunately for these people credit issues have also become a barrier when it comes to finding a good rental. So, for people that are interested and controlling where they live, fixing credit needs to be a priority.
Private money lenders are an option for some people but with high-interest rates and short loan terms, this kind of resource should be used only as a last resort. If you do choose to borrow from a private money lender make sure to look for things like google reviews and better business bureau ratings.
Ideally, prospective buyers with credit issues should look that improving their credit, cleaning up their credit report and working to qualify for an FHA loan. With a little knowledge, work and patience people can get on the fast track to home ownership. Here is an article that outlines the essential steps for buying a house with bad credit.
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