Reader Question: Bad Credit, No Money Down
Upstater | September 12, 2012We get letters like this once a week, asking us for advice on how to beat the odds on the upstate New York real estate market — although it’s still a buyer’s market for now.
This week, a reader asked for advice on how to get a second home (she has a primary residence in New Jersey, after being priced out of Brooklyn) with little or no money down. The catch: “Our credit is not so good since, we claimed bankruptcy a few years back.” The family has two working parents and two kids.
Well, we do know a lot about real estate and houses, but bad credit and no down payment — we’re not sure we know how to solve that conundrum. Readers, any suggestions?
Read On, Reader...
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