Bad Credit Holding You Back from a Mortgage?

So, you finally found The One. After what seems a lifetime of searching, you finally found your chosen. Beautiful, strong and impressive to your friends and family. You’re ready to take the next step, all the while your heart is racing, your mind is spinning, and your palms are sweaty. Think you’re in love? You are. But you’re buying a house.
When I bought my first house, all to myself, it was an exhilarating experience. I was just past the two-year mark after my divorce, having to wait because my now ex-husband had stopped paying the mortgage on the home we bought together. Bankruptcy with a foreclosure; so much for my credit.
I had so much fun with my real estate agent, Amy. I was renting at the time and tired of wasting money so every house that we saw, no matter the condition, could have been “my” house. Dark and dank with the ceiling falling in? I can fix it. A time capsule that was from the 50’s? I can paint everything. There was one house with something creepy in the bathtub and Amy double-dared me to touch it. There was free beer involved if I completed such dare so of course, I touched it and doused my hands in sanitizer when I got back to my car. Victory was cold and refreshing on that South Carolina afternoon. She and I also tailgated before the closing because it kept getting pushed back to later in the day. I don’t remember all the details but someone (neither of us) was on the floor barking at one point while we were signing documents.
So, how do you buy a house with damaged credit? Look for the opportunities you currently have, like in your credit report. Did you know that you can receive a full credit report for free every year from all three credit bureaus? This is a good place to start. You want to call Experian, Equifax and TransUnion or you can kill three birds with one stone and check out You’ll be able to pull your credit report from all 3 entities in one sitting, just be sure to set aside some time and preferably be on a computer with a printer in case you want a hard copy of your reports. Search each report for open accounts, delinquent accounts and especially accounts you didn’t open.
If you find any discrepancies, you can snail mail or file a dispute online, depending on the agency. They have 30 days to resolve the issues and will notify you when they receive your complaint and when they decide on a course of action and close the complaint.
Want more info or one-on-one help? Contact April at Moayyer Real Estate Group. She’s a personal finance geek and will point you in the right direction at no cost. 