Is there mortgage lenders out there with credit score of 400 or below?,?

Had a credit score between 640-690, had a stroke and behind now. Credit score drop with neg-Ams on all loans,plus behind on credit cards. Can anyone help me? (1) home I live in and 2 home rented out. Renter skip out and left me in the hold of 3 months on 1 home past do, other 2 are ok. trying to catch up with debit arrangements. Any advice?

Public Comments

1. There are always mortgage lenders that will give you credit no matter who bad your credit is. Your best bet to get it is to go to a mortgage broker like LendingTree.com. However, I would do a credit report clean up, which is easy, fast, and only costs you the price of your credit report. Check out the first article below to see how to do this step by step and get your score up in 30 days. The second article tells you how to also bring your score up without doing a credit report clean up. Following all the tips will get you a killer report quickly. Hope this helps.
2. There is no answer for this situation aside from private money... I can GUARANTEE....no institutional or depository (Chase, Countrywide, Washington Mutual, Etc) lender will lend on a loan that is as non-performing as this... The best I can do is private money, if and only if there is a decent amount of equity in each situation. Again...DO NOT waste your time looking for a lender to accept this type of loan..it WILL NOT happen! Please call me to explain:) Dane Michael 517.819.4223
3. There are so many issues with the mortgage industry that you are not going to get any bank to fund a loan with that credit score. If by some miracle you did, it would be either a very high interest rate and/or huge fees and points. DO NOT listen to anyone on here who say they can give you a loan, but need you to send money in advance. No matter how convincing they are. They will take this advance money and disappear, leaving you farther behind. Normally in your case a bankruptcy might be your best option. However, with 3 homes you are not going to be allowed to keep all of them. So while it may be tough you have to get creative. Since you hopefully claim the rental income on your taxes you may be able to take any losses against your taxes also. You need to talk to a tax attorney and see if it is possible or would help you. You may see if you can do a "short sale" or "deed in lieu" on one of your properties. If so that may give you enough breathing room to get caught up on the other debts. The other thing you need to do, if you have not already, is see if you can file a suit against the tenants who skipped. If they don't have any assets it may be a hollow victory. But if they have something you can attach you may be able to get some of your money back.
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