Ok guys some things I almost can’t handle. This post will push some people to the stage of emotional ‘come apartness’ but that’s just too bad. Some of you are being stupid and you need to hear it like it is.

You shouldn’t be getting a mortgage loan if you have bad credit, period.

What kind of person would I be if I acted like it was ok to make crappy financial decisions? Step up, become an adult, and stop making sucky choices. You have already screwed over your credit and now you want to push the issue further by taking out a mortgage loan? WTF people, that’s all that I can say.

I’m at a point in my life where I’m starting to get ahead a little. Why is this happening? Because I finally decided to spend less than I earn. I spend $380 per month on my housing, even though I make more than $12,000 per month. What does this allow me to do? Save a lot of money so that I can buy a home the right way.

Bad credit mortgage loans are honestly one of the absolute dumbest things you could ever get involved with. Do you really want to pay more interest for your home than people pay on their credit cards? How is this a good plan?

One of the biggest problems here in the U.S. is that everyone thinks that we’re born with the divine right to own a home. Sorry suckers – we’re not. If you want to own a home at some point, get control of your life. Work harder and stop spending everything you make.

If you have bad credit, you don’t deserve to buy a home right now. Sorry. You should be renting while you fix your credit. I feel for your situation and have been there myself. My all time lowest credit score was under 500. I couldn’t buy a cell phone or satellite dish, let alone a home. I didn’t deserve to buy a home and neither do you, if you’re in that situation. Grow up, and fix your situation.

Likely objections to this post:

  • But Damien, I CAN’T save money. I don’t make enough to save anything. I can barely pay for my bills as it is. Oh really? Maybe you should consider taking a look at the Global Income Calculator. If you make more than $100 per month, you’re richer than 65% of the people on planet earth. Trust me, you CAN save something.
  • Damien – my credit is only bad because bad things happened to me. Credit scores are bad for one reason – people don’t pay their bills. I understand that bad things happen. Bad things have happened to me. This doesn’t change the fact that a bank shouldn’t be loaning you money. Take responsibility, rectify the situation, and then buy a home.

Getting a mortgage with bad credit is a terrible idea and people who use them are completely out of control. Have some humility, pay your rent, pay your bills, fix your credit, and then start thinking about buying a home. 3 years from now you can have complete control of your finances. However, you have to start acting now.

Similar Content:

  1. Avoid Mortgage Loans For People With Bad Credit There is a reason to avoid mortgage loans for bad credit. Actually, there are a couple reasons to stay...
  2. Financial Suicide – Mortgage Loans For Bad Credit Lenders are always talking about how a home is an investment and how renting is throwing money away, which...
  3. Mortgage Loans For Bad Credit Could Cost You Thousands A mortgage with bad credit is a financial risk for both the borrower and the lender. The lender, however, takes...
  4. Signature Loans for People With Bad Credit Don’t Exist If you thought bad credit signature loans don’t exist, think again. Signature loans for people with bad credit are not...
  5. Getting Mortgage Loans with Bad Credit – Bad Idea Obtaining a mortgage with bad credit is not a good idea for a number of reasons. Often, the fees involved...

Tags: , ,
Share this post on: