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My husband passed away in May. I want to buy a home for myself and child. We had bad credit. We had joint credit. How will this affect me Can I still get a loan?

Kristi Hammond

in Student Loans

1 answer

1 answer

Whitney Matthews on June 9, 2018

Response . The best advice for when your life changes dramatically, is not to change a lot more than the first year alone. This allows you to complete your mourning and to have time to spend with the family without other occupations of interference. In that year, you can obtain your credit report, pay what you can, pay rent and other bills on time or before, and the credit should be improved. This, and a good hitch (objective sufficient to make the payments is not worse than the income, including taxes and insurance), will ensure that you get a decent mortgage rate (you can get a loan, but the rate will depend on your credit as it is now) and also it will not be the house of the poor. Also, do not let the close friends to make their investment or any other financial activities that affect your long-term situation. Put it in a savings account, roll over the IRA/401k and sit things look a lot better in a couple of months. Some community colleges offer short-term classes in finance, what sounds would be particularly useful in the manufacture of their plans for the future. The MSN Money web site, as well as the Suze Orman have good advice and discussion groups.

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