Forget About Credit. Will Anyone Be Able to Save a Down Payment to Buy a House in The Future?

The Center for Responsible Lending has a very interesting publication out that addresses the proposed new regulation that will mandate a 20% down payment for a residential mortgage. The 20% proposal is ridiculous and you will not that it has nothing to do with if you have good or bad credit. The new proposed large … Read more

We Live in Section 8 Low Income Housing and Want to Buy a House. – Patrice

Patrice “Dear Steve, We live in a section 8 home and have five kids and with a partner we are going to get married and want to buy a home. My credit is messed up by 9000 dollars and his credit is messed up a little bit or he doesn’t have enough credit history. So … Read more

I Thought I Did the Right Thing With My Perfect Credit. – Jim

“Dear Steve, I have always prided myself on having good credit. I never missed a payment on any secured or non secured loan, including credit cards. A few years ago, I wanted to upgrade where I lived so I purchased a nicer Florida condo and kept my old condo to rent. I purchased a condo … Read more

Will I Ever Be Able to Buy a House After My Bankruptcy and Foreclosure? – Michael

Michael “Dear Steve, I got a chpt 7 a few years back when I was going through a divorce. Ran into some money problems and got a chpt 13 repayment plan but my house was foreclosed on. I am currently renting a home but would like to save money for a big down payment on … Read more