How can I sell my old house and get a new one if my credit is messed up. What is the first thing i have to do?
Well i want to sell my house and get a better one but my credit is terrible. And I dont know were to start help I need to sell my house and get credit strighten out.
April 18th, 2010 at 9:21 am
Try and get your credit repaired. this is probably the best way. check this site they do a great job for cheap
http://www.newcreditrating.com
April 18th, 2010 at 9:21 am
Unless you want a bad deal you will have to fix your credit first. You can fix your credit if you are willing. Go to truecredit .com and sign up for 14.95 a month for all 3 reports and scores. At the bottom of your report it will tell you why your credit is bad and what can help it. then make all of your payments on time for at least a year and you will see a big difference. If your score is 566 and you just make your payments on time for 12 months then you will see a 66 point jump in your score. Do not let anything new come on to your report. Sometimes it is worse to pay on an old debt. When you pay on an old debt it brings your account current so you are behind again plus you make it stay on your credit from the start of the seven years again. Good luck and wait a year so that you can get a deal worth going for.
April 18th, 2010 at 9:21 am
sell your house first then you’ll have cash to put on new one as long as you have equity
April 18th, 2010 at 9:21 am
You don’t need good credit to sell your house. Just put it on the market, and if you get your price, sell it.
If you get enough cash out of your old house to make a substantial down payment on another house (40 – 50% or higher) you should be able to get the rest of the home financed even with bad credit. With that large a down payment, you can often get a "no-qualifying" home loan, which means you don’t have to pass credit checks, job verifications, etc. to get the loan.
The only help you can get on getting your credit straightened out is the help you can give yourself. Begin paying your debts on time. Never be late again on another payment. Don’t go into debt by more than you can repay easily. Protect your credit rating. As you now know, it is very valuable.