I have been buying my house on contract for the past 8 years, this is the year to obtain my own financing and get out from the original owners wing. I have a legal contract with the owner and i make payments to the bank, but they arent reported to the CRA's. My scores were worse than being in the toliet (stupidity, ignornance ets..) but i have brought them up to the toliet classification in the past few months, so now all ficos are in the low 500's with potential, if CRA's have some mercy, to bump up alittle more in the next few weeks. Now here is the most confusing part to me, this must be called a refinance?? I only have til Sept to show that a lender is willing to work with me. Now I know that I will have to take a Sub-prime lender / loan and I will just willingly have to accept that-- I did this to myself as a strugling single mom and actually, bottom line is that I will be grateful to get some kind of financing! I have no lates for my payments of my house -- which i love dearly -- and I do not want to throw away this opportunity. The kids are all grown now, and I want this investment.....etc.
So my question is, WHO do i try and contact, does anyone know of the least painful way to go about this. I still have a couple of CO's and a couple of lates awhile back on student loans, so i know a FHA is out. Please anyone been thru this? any mortgage people who can see a positive in this -- i would gladly like to hear your words of wisdom. thank you !