Cleaning up my credit while currently leasing owner wants me to by house by Dec 15 if loan not done by then?
by admin on Saturday, November 19th, 2011 | 2 Comments
can he evict or what can I do to extend Im close on getting my credit repaired so i can get loan to buy the home we lived there for 8 months and have been paying 1,100 per month. My kids are in school and we love the house what happens if loan takes longer than Dec. 15, 2007??? help!!!!!
Talk to them. See if they will work out an extension. Show them the time it is going to take really to get your credit cleaned up and then ask them to extend for a month or two.
I think that if you really love the house that much you need to be prepared to do a lot of work and to really kiss up.
What I would do is put together a plan – have it really clean and ready to present to the owner…
Join MyFico.com or something like that to get unlimited access to all three of your credit scores. Print those out and your credit reports too. Get yourself a nice red marking pen and mark it up. Circle the stuff that needs attention, star the stuff that you think is wrong, etc.
Spend some time on the website below and read about all the ways you can clean up your credit faster. There are even ways you can get certain things totally wiped from your credit report. Turn this into your obsession, your credit quest.
Go visit several lenders – explain to them your situation and tell them that you’re looking to find out what credit score you’ll need before you can be approved for the loan.
Once you have started working on it – and document EVERYTHING – put everything together and go talk to your landlord. Show and tell him what you’re doing, and agree to update him monthly. You might offer to put together some sort of written agreement to purchase the house once your credit reaches a certain score, and by a certain date.
Another thing to check into (and I don’t know much about this) is that some landlords offer some sort of rent to own or a purchase contingency or something along those lines. You might ask around – maybe ask a real estate agent if they know anything about that sort of thing, and how it is set up. You might have that info ready as a backup if in your “meeting” he doesn’t agree to the first plan.
Good luck. But if it doesn’t all work out, just remember that there will be another perfect house, what makes it perfect is that it is where your family is. All my best!