Will bad credit prevent me from getting a nice home or apartment?

June 28th, 2009 | by admin |

I filed bankruptcy a couple of years ago. On top of that I might have to go into foreclosure. How difficult will it be to get another home/apartment.

call up private sellers and ask for owner financing. You do not need credit ( they have no way to check anyway ) and most all the time you can get into the home with no money down.

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  1. 9 Responses to “Will bad credit prevent me from getting a nice home or apartment?”

  2. By chatsplas@sbcglobal.net on Jun 29, 2009 | Reply

    NOT easy. You have a long history of making poor choices and of being fiscally irresponsible. Sorry, but I wouldn't rent to you. That's the consequences of your poor choices.

    EDIT: Filing for bankruptcy is frequently caused by unexpected medical costs and not poor financial management. But having filed for bankruptcy and to now face foreclosure is indicative of some one not living within their means, not being fiscally sensible, and having a history of making poor choices.
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  3. By Abalone_girl on Jun 29, 2009 | Reply

    I suggest getting some really good personal references. If someone is willing to vouch for your character it may help. I have done this on several occasions for people whose credit is not bad but do not fit the profile of you 'average joe'. Teachers, pastors, law enforcement professionals are all good references.
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  4. By S M F on Jun 29, 2009 | Reply

    Not impossible, but it will be more expensive, it will be on your record, and it will be bothersome in the process. I'd suggest getting a copy of your credit report (free) before moving in any direction, then you will know more from the get go. Then pick the CC with the highest interest rate, pay that one off first! Find out what can be minimized or cut completely (fast food / smoking) to save a bundle.
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  5. By Etta P on Jun 29, 2009 | Reply

    Yes, it will.
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  6. By goldenbear733 on Jun 29, 2009 | Reply

    I don't know what your financial situation is, but people have to understand that filing for bankruptcy isn't always the result of someone being financially irresponsible. There are many factors that may be involved, such as divorce. In MY case, I was desperately looking for a roommate online, and to make a long story short, I fell into a trap and ended up being scammed for $9000, of which most came out of the bank's pocket. I only had $10K in credit card debt at the time, and it was being managed by a consumer credit counseling service. As a reult of being victimized, my debt doubled and I had no choice but to file for bankruptcy. Anyway, you may have a little more of a difficult time trying to find an apartment or a home, but not everyone will question your credit history. You may be required to put more money down as security deposit, but you aren't the only one in the world with financial problems, especially these days. I think that your chances of being approved for a home loan right now isn't going to be very good, I would try renting for a while and building your credit back up.
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  7. By murigenii on Jun 29, 2009 | Reply

    It could (likely will), but it will at least make it harder for you, and more expensive. A lot of landlords check credit ratings before they will rent to you. Personal references are good, but a bank today probably isn't going to take a chance on you buying this soon after a bankruptcy PLUS a possible foreclosure. You might even have to have a co-signer to get an apartment.
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  8. By jaws21 on Jun 29, 2009 | Reply

    Yes it will, you won't be able to buy for at least 4 years, provided that your credit will be in good standing and nothing can be late after the foreclosure is done. You might be able to rent but it will cost you a lot of money, they will probably ask you for a co-signer and the maximum allowed deposit in your state. Or you can rent from a motel, they don't check credit but again it will cost you a lot and if you don't pay, your things will be outside with no problem.
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  9. By bob W on Jun 29, 2009 | Reply

    call up private sellers and ask for owner financing. You do not need credit ( they have no way to check anyway ) and most all the time you can get into the home with no money down.
    References :

  10. By john on Jul 1, 2009 | Reply

    Whether you are scheduling to seek out a credit declaration program or debt consolidation, the two systems are basically the same. But, before you take action to go forth with either one, it’s best to take with a qualified financial consultant first. it will recommend you from all the debt with lilt advisory. It is better expend some time to accomplish this commission and get consequences over debt free life.

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