Are there any programs for someone with bad credit to get a home Loan?

Question by Mike R: Are there any programs for someone with bad credit to get a home Loan?
I am getting divorced.Once my wife was no longer living with me, she was unable to intercept the mail, and the phone calls, and I found out that she had not been paying most of the bills. She also had bounced ALOT of checks. I have been working to get things paid off, and only have one $ 7500 hospital bill that I didn’t find out about untill the hospital sued me. I have set up a payment plan with the lawyers. Needless to say my credit report isn’t pretty. I make about $ 50,000 a year, and I am wondering if there are any loan programs that would take into account my situation and my efforts to pay my outstanding debts. I would love to be able to buy a home for me and my children, and would appreciate any info I could get.
By the way, If you are wondering how this all happened to me, it is a long story that involves drugs on my wife’s part, and a whole lot of denial on my part.

Best answer:

Answer by slara512
there is always a way to get financing, but can you afford the high interest rates is the question.

if the deal makes sense, even hard money lenders (private money) would finance most of the money. email for a list of hard money lenders

otherwise, any broker would find you a loan and offer it to you to look at and accept or reject depending on your needs and qualifications and the home specifics.

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