Thread: Now is the time to buy

Originally Posted by RightPros

or says all the realtors I speak to, now my credit history is still very limited, what can I do to improve my credit, or build my credit to the point where owning ahome is plausible?

I am not completely clear on what your question is. Are you trying to find out how to fix derogatory credit or are you trying to build your credit from scratch? The answers to these questions will assist us on the forum in helping you. I will provide some links below that may be of use for you and if you post answers to the above question I will help you in any way I can.

http://www.bankrate.com/brm/news/cre...20031104a1.asp

http://homebuying.about.com/cs/yourc...edit_score.htm

http://www.ftc.gov/bcp/conline/pubs/credit/repair.shtm

Well the question is both. I have bad credit, while my partner has no credit history, We wish to be able to purchase a home together but in our current state we will be unable to puchase on our own

Originally Posted by RightPros

Well the question is both. I have bad credit, while my partner has no credit history, We wish to be able to purchase a home together but in our current state we will be unable to puchase on our own

pm me with how bad your credit is and go have your partner apply for a bon marche card. Bon marche will give him like a $100 credit limit. He should put fifty dollars of merchandise on the card then pay it off via minimium payments. In six months he should ask for an increase of the credit line. Also you and your partner should go to your local bank each put $500 in a savings account and request a secured visa using the money in the savings accounts as collateral.

Now if you let me know all of what is wrong with your credit we may be able to get some of it removed or in some cases all of the derogatory credit removed.

Yet no one knows for sure. It may go down some more, but if you buy and it goes down, sooner or later you will be happy you bought during a slow market.

this is useful information and thanks to the insight. I've been hesitant to buy now although it's a great time to do so.

Although we are in a depressed market and many good deals are on the horizon, winter is typically the best time to buy. Right now, you're offers will meet more competition, everyone tries to move in spring and summer.

I think everyone made great suggestions about the credit issues, stay on top of it and use FICO's online program to see what things you can do to keep it up.

Other responses have provided some great advice. Rebuilding your credit is not always as daunting a process as some fear. Sometimes it can be done relatively quickly... especially if the consumer is willing to give up old and bad habits.

This may be a very good time to buy depending on your market. At the same time, requirements for buyers have tightened up tremendously... all the more reason to fix that credit now.

On the bright side, making regular mortgage payments is one of the BEST things you can do to build a healthy credit history. Once you are able to buy that home, pay on time, every time!

Good luck!

My credit is and go have your partner apply for a bon marche card. Bon marche will give him like a $100 credit limit. He should put fifty dollars of merchandise on the card then pay it off via minimium payments. In six months he should ask for an increase of the credit line.

[quote=Texas_