I promise you

…That you can get a mortgage with bad credit. And this despite an adverse credit score.

But don’t kid yourself, it’s not easy and you must approach it as a job. First off, take a good hard look at your credit score. There are plenty of sites online offering free credit reports. Get yours right away. Without it, you are flying blind. Make sure there are no adverse situations shown which are downright wrong and get them corrected. No, it’s not impossible to get correction but this is one more excellent reason to change your ways and start keeping accurate records and saving all supporting paperwork.

OK – so you’re going to apply for new credit. Stop! For a few months, don't open or close any more accounts. If you do, you will lower your score. Work on debt reduction and if you can, transfer some of your balances to existing accounts with lower interest rates.

To give yourself the best shot, keep all payments up to date, maximize cash or near cash assets and endeavor to improve income. Even a recent bankruptcy can be dealt with in this manner and overcome with a solid paln and hard work over time. So get started!

For the most part, you will need six months cash reserves for getting a no down payment loan. The lower your debt-to-income ratio is the better.

Last but not least, get the right online lender to take your application. Here you need to do a lot of homework. Ask the lender for references and follow them up by calling people that have dealt with this lender. Rates and fees charged for below prime home loans vary widely. The only way to find the best deal is to be diligent about your online homework. Get a number of quotes to make adequate comparison.

The estimates that you receive should include closing costs and fees involved. You must understand everything about the structure of the loan before acceptance.

The most important factor is not getting approved but what you will pay. Make sure that you consider all available options, including the down payment, if any. Lenders are more than willing to work with your situation, regardless of your credit history but the field is not without a good sprinkling of “shysters”. So watch your back and be diligent! You owe it to yourself to use caution.

Tim Moss

The Credit Guide who publishes key data for those with high debt who

want to straighten out their finances at http://www.badcreditovercome.com