Bad credit, USDA Rural Development Loan? Will it work?

If someone has held a job for more than 3 years, but has a bad credit history (hospital bills, a credit card bill from the past, one accidental bad check from 4 years ago, and a utility bill owed), does this disqualify the person from being eligible for the USDA Rural Development Loan program?

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  • Anonymous
    1 decade ago
    Best Answer
  • 1 decade ago

    Bad credit is one of the worst problems to have... however there exists a solution.

    I will hereby talk from my personal experience.

    I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,

    if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

    a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :

    http://umgarticles.atspace.com/debt-consolidation....

    if it helps kindly remember me in your voting!.. cheers!

  • 1 decade ago

    depends on the specifics of the loan and the mortgage firm who takes it. usda make direct grants, and loan guaranteed loans which is a mortgage from a lender which the usda guarantees, but makes no direct loan.

  • 1 decade ago

    You need to call a qualified lender to find out. I would suggest you email a friend of mine, Michael Campanaro of Wells Fargo Home Mortgage at michael.campanaro@Wellsfargo.com and ask about his credit program to see what you can qualify for. That's the safest bet. good luck.

    Source(s): Denise Broesler, Broker-Associate, RE/MAX Classic Group,
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