Chapter 3: Improving Your Chances to Get a Home Loan (continued) - Free eBook: Buying a Home When You Have Bad Credit

		At I-Can-Buy.com we believe that information should be available to anyone who wants and needs it, so we are trying out something new for a limited time. We are offering this valuable information FREE on this website, in a format that is supported by advertising, instead of selling this valuable e-book. We think this is a great idea and we hope you do too. Here is Chapter 3 (Continued) of our FREE Online ebook. To get a free pdf download of this book, Click Here. To go back to start the book with the Introduction and Chapter 1 Click Here. Buying a Home When You Have Bad Credit: 12 Ways to Purchase a House When You Can't Get a Home Loan. Chapter 3: Improving Your Chances (Continued) Use Any Collateral You May Have For a Personal Loan Maybe you have something of value that you can use for collateral for a personal loan. This might be a good way to come up with a down payment. Some of the things banks will consider for collateral are: Stocks Bonds Gold and precious metals Other Real Estate, such as land Vehicles Furniture Collectables Have a Relative or Friend Co-sign the Loan This is a time-honored way of getting a home. Often close relatives or friends will help someone they care about who is in need. Sometimes all it takes is to ask. You can also get someone else to buy the house for you and later be added to the mortgage and quit-claimed to the deed. Check your state laws on the subject. Increase Your Income Get a second job. This can just be for a while. The increase in salary may be enough to qualify you for a loan. Also it gives you extra income to save for a down payment or pay off debts and fix your credit. Start a small home business to bring in extra income. Be careful there-- a small business can be costly to start and run, and may not bring in muchincome for a while. But it works for many people. Do your research before you start. Weigh the risks and advantages. Ask For Help Ask for help from your church, synagogue or other nonprofit organization. Some government programs and organizations will help you with financingor other housing options. (See the section “Look into Sweat Equity and Other Community Programs” in Chapter 6 for more information on this.) This has been an excerpt of the book by Alex Dey called Buying a Home When You Have Bad Credit. Buying a Home When You Have Bad Credit is written by Alexis Dey, Copyright © 2005-2006 Mohave Publishing. All rights reserved. This book is protected by international copyright law. You may not otherwise resell, reproduce, distribute, publicly perform, publicly display, or create derivative works of this material, unless authorized by Mohave Publishing. http://I-Can-Buy.com To go to chapter 4 click here . Disclaimer: Concepts in this book represent the author’s individual experiences, ideas and opinions. It is intended to provide helpful and informative material on the subject matter covered. Others may have different results, depending on where they live and the laws that apply there. This book is intended to give general information, not specific legal advice. It is not to be used in place of legal, accounting, mortgage, financial, investment, tax or other professional service. The author, publisher and/or contributors shall in no event be held liable for any loss or other damages incurred from the usage of the information found in this book. All materials are based on United States of America laws, customs and conditions. We cannot guarantee their effectiveness in other countries.