Posts: 6
Registered: ‎06-01-2012
Want to purchase a home and need a point in the right direction

Here is my current situation.  I have been at my current job for 13 months (no stable work for around 3 years before that).  I make $60K/Year, and currently have no savings.  I will be done paying off a few personal debts in two months and will be able to fully concentrate my finances towards doing what is necessary towards my goal of home ownership.

My credit has the following:

Bank of America secured credit card.  Closed, written off $408 (Feb 2009).  

Cavalry Portfolio Service (collection agent for BofA).  $613... open.

RGS Financial (collection agency for cable bill).  $69... open.

Home Depot/Citibank.  Closed, written off $844 (Feb 2009).

US Dept of Education $23,356.  Collection account.  This just finally finished the rehab process and has not been updated on my credit report (new amount just under $20K).

GE Capital/Mervins.  Transferred/Closed ($237).  This was from back in 1995, but was re-reported in 2005 to experian. 

Capital One.  Open since 12/2011, Good standing/Never Late, $350 limit, no current balance.

MyFico score is 653.


So, my basic question is what is a good road map for home ownership for me?  If more information is needed, just let me know.  Thank you in advance.