Buy A House Even With Bad Credit: Home Loans For Women With Bad Credit
Posted by Nick Niesen on October 29th, 2010
You don't know how it happened. You pay off credit card debts as soon as you receive your bill. You plunk down rent money on time. You've been making out your check to your car dealer like clockwork. So, why are brokers and lenders only willing to give you home loans for women with bad credit?
Bad things happen to good people, and receiving negative score is one of them. It's even possible you don't deserve your negative rating. Your credit card company could have erroneously logged your payments as delinquent. This has happened to others countless of times before. Or, your car dealer could have mistaken you for another client whose checks bounced.
What Happens Now?
Home Loans for Women with Bad Credit
Another way to avail of home loans for women with bad credit is through the Federal Housing Administration. AN FHA loan is insured by the government. This makes lenders more complacent about giving loans to women who are lumped in the high-risk category.
Qualifying for an FHA Loan
Correcting Negative Credit Rating
1. Request for a free copy of your credit report. Do this within 60 days after you were denied the loan. Most people do not know that annually, they are entitled to at least one free report from each of the three major credit bureaus.
2. If loan rejection is due to the information your credit bureau provided, request for the contact number of the said bureau.
3. Ascertain how, when, and where the mistake occurred. Then, have it corrected for free. All you have to do is submit your request for correction. You may use a dispute form or a separate sheet. Be sure to send it along with supporting documents, such as receipts or other proof of payment.
There are home loans for women with bad credit. Whether or not you deserve a negative rating, it's still possible for you to own a house. At this point, it's not your bad credit that matters. It?s what you do with it that does.
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About the AuthorNick Niesen
Joined: April 29th, 2015
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