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Updated almost 11 years ago on . Most recent reply

User Stats

365
Posts
182
Votes
Michael Herr
  • Peoria, IL
182
Votes |
365
Posts

Finding Financing for bad credit

Michael Herr
  • Peoria, IL
Posted

I have several rental houses in a bad neighborhood that I want out of.

Current tenants who are perpetually late but catch up every tax season want to buy the house.

Rents for $450/month. I own outright. It might sell to an investor for a few grand. Tenant wants to buy for $18,000

That is a slightly above market price, but they can't get financing because of credit and I don't want to finance myself. I would loan them for the down-payment.

She said she had around a 600 credit score and no family that can help.

Any ideas to find them financing?

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