One of the reasons that poor people remain poor is that they are the greatest consumers.....my lower income renters have the $1,500 tv's and latest smart phones but they take public transportation and will rent forever.

I've heard that some people have used credit cards to secure properties.I'd like to use my credit card to pay for the closing costs.

So far, the only good thing about the house is the location/proximity to things like transportation/school/shopping.Thanks for the feedback so far everyone!

@Pyrrha Rivers  Yes, the main things in Credit Scoring is-Length of Credit History of Accounts-Have 3 Major Credit Cards Reporting with No Late Payments --Revolving Balances below 30% of Limits-1 Installment Account-No Collections, Judgements, Public Records(Bankruptcy/Foreclosure) or Late PaymentsThese are very good guidelines...And if you want to get a boost of your scores and have a Family member that has a Seasoned Credit Card(Opened CC Account for over 3 years) that will report Authorized Users- they can add you as an Authorized User and you can have that credit history on that card added to your report...Hope that helps!

Transportation is a major source of jobs here, FedEx, Trucking, Railroad, River Transportation are some of the major players as well as AutoZone and International Paper world HQ located here. 

Unintentional or not, missing payments on a credit card is a BIG issue.

Determinations are still subjective but the reference and support material is easier to follow and instantly available.Keep in mind, seller financing in real estate is a very small sliver of Dodd-Frank as it covers a vast area of consumer lending issues, student loans, title loans, credit cards, auto financing, rent-to-own furniture stores, IOW, all consumer lending.

You can have your mailers, business cards, lettered cars and baseball hats that say "I buy houses....really I do

I have worked with alot of sellers lately (in this crappy market) who got Helocs, used their house as a debit card, :roll: and now are upside down because their home value went down 20%.

Network with other investors and get business cards of ones that are legitimate buyers.