Tuesday, August 2, 2011

Buying a home with bad credit?

I am the wife for 8 years of an abusive husband. My stepdaughters have also physically and verbally abused me with their fathers blessing. My husband is a different man from what I married, so please dont say its my own fault. Thank you. He threatens to throw me out regularly. A few years ago he lost his business. I have had the same job for over 10 years and provide all insurance. He found work, but for much less money and periods of unemployment. Obviously, our credit has taken a major hit. Its been a battle to keep our home out of foreclosure. He hid from creditors after losing his business and now I have garnishments coming out of my pay even though he still makes more than twice what I make. My credit is extremely bad. I want a home for $50,000 or less, so I could make the payments easily, but it seems impossible. I realize a bankruptcy is in my future. When we got married he insisted I feel like the home is mine (it was his first) so we went through having my name put on the loan so we would be "co-owners" and like a fool assumed that he would have my name put on the deed, but that never happened. And in a divorce, I could not afford our current home anyway. I am very depressed that I can't even get a loan for a dump to escape the abuse here. Buying a home would be cheaper and renting is out of my price range. So I feel I am trapped with an abusive husband, and I feel he planned it out this way and I was a fool for trusting him. I could really use some advice. And no, I have little family to speak of and the few I do have are not in a position to help. Is my only option to stay with this man and his kids?

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