Can I Buy This House with bad credit?

http://www.realtor.com/search/listingdet...

It's possible, depending on exactly how bad your credit actually is. With the mortgage crisis in the country, the lenders are going to be more stricter giving out mortgages to people with bad credit.

I'm in the same boat as you.

I'm not sure where you live, but the banks where I live are being very strict about the home loans they give out right now because of all of the foreclosures happening across the US. We've had a particular house get an offer 3 diff. times and everytime the bank loan has fallen through. If you have bad credit, it will be hard for a lender to want to give you that money unless you can prove that you have a good enougincome to make it when living in that house and pay your payment.

It is a buyers market right now where we live because of the economy which is good for you, bad for us. we have 22 rentals in our small town and people are asking to be put on waiting list for them. no one is getting bank loans. Pretty soon, the interest rate for home buying is going to go down i heard if it hasn't already...so get it while you can.

its possible to find private money if you can show you have your act together,the property is worth over what you are asking for and you can put a substantial down . Call a few brick and mortar mortgage brokers in your area and see if they have any private investors they work with. The interest rate will not be something you like but is one of the hazard's of not paying obligations you agreed to in the past.

stay far away of the owner finance and rent to own scams out there and always use a attorney to protect yourself.