HI. Can you tell me more about FHA loans? I'm currently in a chpter 13 but Im almost done. I've made extra payments so my plan is closing a year early. I owe about 4500 then I will be done. Hopefully, I'll make my last payment in May. Now, I want to buy a home. To reestablish my credit, I opened several small credit cards. I've never missed a payment. I recently learned that its not good to maintain high credit balances so I started paying off the credit cards. I have about 2800 dollars left then I have them paid of as well. So by summer I will be debt free and I should have a credit score around 650 or so.
My question is this, should I wait a year and save a down payment and improve my credit score or can I buy now. I looking at condos in the 200000 price range and I make about 60,000 a year.
edited to change subject title --this thread was split off from "Bankruptcy or Debt Settlement Program??? Please Help."
Message Edited by haulingthescoreup on
03-02-2008 05:42 AM