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Re: Buying a house with bad credit
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Posted by observer
(152.163.253.37) on August 07, 2003 at 09:51:54:
In Reply to: Buying a house with bad credit posted by RobinSC on August 07, 2003 at 09:30:12:
If you ever wish to get conventional financing at market rates, you'll have to settle these old chargeoffs. With 12 consectutive months of clean credit and no open collections, you'll qualify for FHA financing. FHA is not score driven so, if you can't settle for deletion of the TL, it won't be a deal killer. With interest rates so low, do yourself a favor and stay out of the subprime end of the pool. www.fhalibrary.com can answer a lot of questions.
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