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Sometimes it seems as if you cannot get ahead, no matter what you try and do. All those hours of extra time that you have put into your career, working so hard over all these years, scrimping and saving every penny, have they all been wasted? During this time you have not indulged in any of the things that you really like to do, your pastimes and hobbies, but have saved up those dollars that you could very well have spent, as you try and make a down payment on a home. After all this scraping and saving, it seems as if your past might come back to haunt you. At that time, events conspired to adversely affect your credit rating. This could have resulted from some unexpected and considerable medical bills, or an unexpected period of unemployment. Whatever it may be, the damage to your credit rating just doesn’t seem to go away.

Why is it that mortgage lenders are so strict? Everything seems to be so much tighter and the recession seems to have scared the banks so much that they will not lend to anybody. Unless you have a credit score of more than 750, it seems as if you have no chance and buying a home with poor credit is almost an impossible dream.

Michigan seems to have been hardest hit by the recession by all accounts and this may well have something to do with the additional plight facing the automobile industry. At times like these, you might think that metro Detroit and its surrounding counties are always dealing with rainy skies, but if you are willing to work hard and explore your options, there is hope for you. Land contracts are known to be useful agreements for those who are buying a house with poor credit. Many of the restrictions placed by banks and those so-called “solid” institutions are not necessarily applicable and the keyword associated with a land contract is “flexibility.”

With a good deposit, you are very likely to find somebody who will want to enter into a land contract and that may open you up to the home of your dreams. All those years of putting money aside, saving up for a home deposit of some kind, will be rewarded and you and your family will feel justified. Don’t be disheartened by the first few bank and mortgage lenders who might shake their heads. Now is the time to seek out someone who will be willing to work with you – according to what you can afford, to put you in that house.

If you’re one of those first time home buyers with bad credit you may be fed up with paying somebody else’s mortgage by living in a rented house or apartment. Get together with somebody who is motivated as well as you are and bypass the rules that are set by those corporate institutions, allowing you to own your own piece of our beautiful country. There’s no reason to wait; take a good look into land contracts, ask the experts, and move into the house of your dreams!