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     | Monday, July 31, 2000 - 05:48 pm  I'm 46 years old and have an established career. I've been with the same employer for 2 years, and the same profession for 16 years. Just recently, the dust has cleared from a divorce in 1992. It took at least 6 1/2 years to get free financially. I have about 3,000 in savings and want to buy a home. However, I still have credit blemishes (the most recent is 2 years old). I've looked for an owner-finance or assumable situation. However, when you have imperfect credit, the options are complicated. I earn 54,200 per year and have no debt now. This forum has been incredible and an excellent source of information. If anyone has any valuable links or information, I would appreciate it (I live in Texas). Best regards,
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| | Monday, July 31, 2000 - 07:39 pm My first thought would be an FHA loan depending on the price you are looking for. Check out http://www.hud.gov/lenders1.html for current FHA limits in your area. As long as all of the derog items have been paid over two years ago, you have a good rental history, not increasing your housing expense tremendously, you shoudl be able to get it done. If you know your credit scores, there might be some other programs such as FNMA Community homebuyer or others. If you have a copy of your credit reports and woudl like to fax them to me, I would be happy to tell you what options you may have or what needs to be done first. if you don't have them, I suggest gettign a copy first. This way when you apply for a loan, you can have a lender look at your credit and give you their opinion before they all pull your report or charge you an application fee.
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| | Tuesday, August 01, 2000 - 01:21 am P Burton, it sounds like we have much in common. I am 48, have been in the same industry for approximately 20 years and at the same employer for two plus years. Yesterday my dreams for getting a house went up in smoke at the end of the day. I have worked very hard for the present employer and we have been going through a reorganization and wham! you guessed it. at forty eight I don't fit the mold that they want despite my growing the revenues at 20$+. they split my territory into 3 districts and hired two people without experience in the business I am in. another person does have experience and I will be reporting to him. But I have no expectations that it simply isn't a manuever to get rid of me without having to say so and provoke a lawsuit for whatever reason. I am bitter about what Amerika has become. Corporate Amerika treats loyal employees like scum. Once you have been used, you are disposed. I don't plan on voting anymore since it is a joke. the american dream is just that--a dream that has been shattered by both management and the unions altho at least the unions stick up for the little person. My advice to you is to wait for just one more year. I would hate anyone to loose a home just having recovered financially and the emotions of a divorce. build up cash to over one year of unemployment and house payments. six months doesn't cover it anymore. good luck.
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