ok, I have talked about this in the past on this very website and I got some great advice and a few posters turned me onto some great ideas about how to go about things....
I have purchased 10 acres of land in the country.....my credit is weak, I know banks could care less about why I have bad credit but its not like I was irresponsible from lack of a brain, it was lack of money, a wife that was working full time and going to school fulltime while getting no assistance from the govt, we had to pay for her school......we both have been employed with the same employer for over 12 years....different employers but we have both worked at the same place.....have little to almost NO debt...vehicles paid off next month and we live in a house for free that is owned by family....only debt we have is utility bills.
OK, how do we go about getting a loan to build? I have shopped around at different banks and they just really want no part in us. We have spent a few thousand dollars with those credit builder companies to no avail, they took our cash and pretty much did very little....but anyhow, where can we start.....we are paying for our land on a land contract, we have about 20-25k in equity in the land if we can get it in our name.....we might be able to come up with about 10k in a down payment if needed, but would not like to if there is a way around it.......
I know some on here are into this type of field so if you have any suggestions or ideas, I am open to anything...my kids are 5 years away from going to college and we would like to get this done before then so we can build some equity......I am open to anything....
I just get frustrated with all these banks looking at me and my wife like we are bums who dont pay bills.....matter of fact, we file for bankruptcy back when my wife was still in school and we continued to pay off every debt we had except for our home and we got it sold for our payoff so we really left very little debt on the table....we kept paying off our cars and we paid off everything except credit cards which was under 5k. And on our credit cards, we paid everything off except interest....we put the interest in our bankruptcy, our lawyer advised against it, said to let all debt go and let someone else worry about it.....but we didnt want to do that.....we felt responsible for our debt so we paid all we felt we could.....I just hate that these banks look at us 5 years later like we are trash. We have actually been laughed at by one bank. one thing we could give up but dont want to is tithing at our church....we try and almost 100% succeed in tithing each and every month at church.....it just sucks to have these banks laugh us out of their building when we feel like we are financially in better shape than most of the population yet because our credit score says one thing, banks sterotype us into one category........
anyone got any ideas? I know this is a shot in the dark but there are some smart people on here, so I am all open for ideas.
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Originally Posted by lidspinner
