Three tips for buying a home on shaky credit
Filed under: Borrowing, Debt, Home, Real Estate
It's a buyer's market, they say. You can get a house for a really low amount of money, they say. In fact, they say, it's a wonderful time to purchase a home.(Who are they? I'm not sure, actually. But I know that they say this sort of thing a lot, and besides, it's a useful device we writers employ when we don't quite know how to begin writing.)
Anyway, I've been wondering -- with banks tightening their policies for lending and being reluctant to give anyone a loan, is it really a buyer's market if people aren't given home loans so they can buy?
Ernestine Crews is the founder and president of eCrews Enterprises, which is what she calls a wealth building academy and opened last month. And Crews, who hosts "The Road to Wealth and the Guide to Financial Freedom" on KLSX-FM in Los Angeles, says, "The easy lending with low FICO scores -- the party is over. If you don't have prestige 700-plus credit, you're going to have a difficult time."
Well, sure, tell me something I don't know.
But then she did.
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