We got an offer accepted on a Novi home today. What is special about getting this offer accepted on this Novi home is that is has taken us one year to get it done.
A year ago l met with this young couple. They were referred by their parents who had bought a Plymouth home a few years ago from me. This young couple had just gotten married. She had a cute Canton Condo but it wasn’t big enough for thier future plans. So they wanted to move.
The problem was that “John” the new husband had bad, bad credit. It was so low he could not be even be on the loan. The other problem was that the condo had a FHA loan on it. They could not get another FHA loan on thier new home unless they sold the Canton condo. And the condo was bought at the high point of the Metro Detroit real estate market so they could not sell it for what they paid for it. But it was feasible that they could rent it out and have positive cash flow.
So the long term plan was to get the husbands credit back on track so we could buy the new Metro Detroit home in his name. They wanted a home with good school, just a good starter home. So I told him to put all his payments on automatic withdrawal out of his checking so no payments would be late. We went over the credit report and he contacted the criedt bureaus to remove all the mistakes. I had him get a secured credit card and had him get added on as a ”authorized user” on his wifes credit card. After one year we got his credit raised from 535 to a 625 score.
He now had good enough credit to get a FHA loan by himself. His credit had been clean for over a year and he made enough income to qualify for the loan on the new Novi home by himself.
It took time but we were able to help them achieve their dream of owning a Metro Detroit home that they could build their future.
The bottom line of this story is that even if you have bad credit you can own your own home. Email me today at info@RussRavary.com to sit down and improve your credit so you can buy your dream home. Start today to clean up your credit. It works, it just takes time!
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Here is my quote of the day:
“The greatest glory in living lies not in never falling, but in rising every time we fall.”