Most of us know at least a few people who have experienced a financial hardship over the last couple of years. Even if the setback was only temporary, the resulting damage done to their credit scores often continues to haunt these folks, and obtaining credit has become a seemingly insurmountable problem for many of them. According to an analysis done by Zillow Mortgage Marketplace, nearly 1 in 3 Americans may be unable to qualify for a home loan because their credit scores are too low!
In today's Wall Street Journal there is an article discussing how the denial of credit to otherwise qualified prospective home buyers (those with solid incomes and substantial down payments but less than optimal credit scores) is negatively impacting a real estate recovery.
Credit Scores May Hamper Housing Comeback - Real Time Economics - WSJ
If you know someone who has been denied a home loan because of a bankruptcy, short sale or foreclosure, even though they have a stable income and a sizable down payment, I can help them get a loan and buy a house! I can put them in touch with a lender who gives more consideration to income and down payment, and less to credit scores, than traditional lenders. Please have them call me and let's help them move in to that house they really want to be living in!
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