Help!! I want to buy a house, but my credit score is early 500s, any advice?

@Zelda414 (149)
United States
September 22, 2008 11:27pm CST
Does anyone have any honest advice to help improve your credit score quickly, legally, inexpensive maybe free etc? I really want to buy a house especially while prices are low and economy is low, but my credit score is in the early 500s and i really dont know what to do, problems from divorce, fraud n just medical bills. any suggestions? Thanks
1 response
sedel1027
@sedel1027 (17846)
• Cupertino, California
23 Sep 08
You can take out a secured loan form a bank. Between the loan being secured and the bank giving it to you, your credit score will go up. Anything - like fraud - that is on your report you should really get cleared up by the crediting agencies. If I were you, I would go talk to the personal bankers at your bank and see what they suggest. They have all kinds of tips and tricks.
1 person likes this
Zelda414
@Zelda414 (149)
• United States
23 Sep 08
Sedel, thank you that is definately an idea however i dont know if i would qualify for a secured loan from a bank, what do you think? any experience in something like this? Thanks
sedel1027
@sedel1027 (17846)
• Cupertino, California
23 Sep 08
If you have any type of collateral - money in a savings account, car, etc - you can get a secured loan. If you have cash, you can buy a CD and borrow against that.