about to buy a home

[jonesbro]

What is the name of your state? tn
I just came into a large sum of money 50,000 im self employed my beacon score is 599 trans
experian 548 exq 508 .. What the best route for me to go wiht about spending all of my money, I MAKE ABOUT 2,000 a month from my biz but I have yet to file taxes

[lcannister]

Originally Posted by jonesbro

What is the name of your state? tn
I just came into a large sum of money 50,000 im self employed my beacon score is 599 trans
experian 548 exq 508 .. What the best route for me to go wiht about spending all of my money, I MAKE ABOUT 2,000 a month from my biz but I have yet to file taxes

Put the money in savings and clean up your credit reports before even contemplating a home purchase!

[lcannister]

Originally Posted by jonesbro

I just came into a large sum of money 50,000

Is this the sum you discussed under your STRUCTURED SETTLEMENT thread or do you have 50k in hand?

Under the circumstance you can expect an interest rate of 12 to 18 percent if anyone would even touch the loan in today's subprime lending environment.

[Gadfly]

Is that 2,000 after you pay yourself, or is that what you get. Do you have health insurance? How much do you owe total to all creditors?

[nextwife]

With that much down, someone F&C might be willing to do an LC. I bought my first home, a nice condo that showed poorly, for $2500 down on a five year LC, which I ballooned out of after five years. I even got a roommate who used the second BR and bath, and doubled up my payments the first five years, so my balloon was a lot less than it might have been..

[jonesbro]

thanks for the advice guys!