Does it always seem to you as if you're in the right place at the wrong time? Financially, maybe you can't quite seem to match up with the requirements needed to take advantage of a particular situation at hand? This can certainly add up to serious frustration, especially if you're responsible for looking after a devoted family and all you really want to do is to do the right thing for them. From morning until night you are working as much as you possibly can, trying to meet your obligations, any which way you can. As the days and weeks go by the family is increasing in size and the tiny house that you have is being quickly overrun. As you look around, you might have seen some potentially perfect homes in Grosse Pointe and other areas of Michigan, many of which could possibly be in foreclosure, right now. However, for whatever reason, you just don't have the cash required to meet with the restrictions imposed by conventional lenders, and here you are again — seemingly in the right place, but at the wrong time.
In all likelihood, you might not like living in a rental property and it might not be big enough for the size of your family, or alternatively you might be staying with your parents or in-laws, which can quickly grow "old," leaving you to look out for any potential opportunities wherever you can find them. Consider the land contract option and how this might help you to move into one of those fantastic homes that you may have been keeping your eye on. Land contracts can often represent a far less complicated undertaking, as the terms are generally agreed between the seller and the buyer, not being subject to those typical restrictions imposed by banks and mortgage companies, which are more often than not afraid of their own shadows. You see, if you come across a highly motivated seller, it's amazing what can be done. If you can show that you are in steady employment, that you are doing your utmost to look after your family but have little left at the end of any week to put towards saving for a down payment, then you may be able to qualify in this respect for a mutually agreed monthly house payment.
If you don't happen to have the cash for a down payment or are buying a house with poor credit, this can often result in the need to live in a less than satisfying home, forcing you to put up with a general feeling of discontent. If renting or living with family, you're probably looking for your first big break, but first time home buyers with bad credit seem to be at the 'rock bottom' of the list of favored people when it comes to making appointments with bank managers. You don't have to go through all the heartbreak of trying to deal with those colorless bank managers, if you can find one of the many land contracts available in your area. Negotiate the terms, the length of the contract and see if you can't agree sensible and workable repayment terms with the seller. Always make sure that you consult with an independent land contract expert, who may well be able to give you the green light to changing your life for the better, proving that buying a home with poor credit is really achievable.
