How Can A Low Income Single Mother With Bad Credit Buy A House?
The question is potent with seriousness. There are four issues as one can observe. First point is that the woman is a single mother. Second point is she has a low income. Third point is she also has a credit that has turned bad. Fourth concern is that she wishes to buy a house. To buy a house, she has to approach a bank that offers credits or loans for new house. Banks, as we all know, check the income proofs and the credit history of a customer. Looking at her bad credit history, there are dull prospects of her receiving a house loan form any bank. She could have received a loan with the help of her spouse, in case she was not a single mother. If with some help she manages to get a loan, she is not in a position to repay the loan as she has low income and banks charge high interest rates for house loans. She is left with one option to accumulate money and buy a small and simple apartment once she collects enough money to pay the interest for a loan.
