ADDING A MORTGAGE USUALLY WILL NOT IMPROVE POOR CREDIT

The most frequently asked question seems to be "can I get financing if my credit score is very low?" Of course, but you'll likely not have the down payment required nor like the interest rate.

Providing credit involves more than simply looking at a score. The reasons scores are low are often the same reasons that lenders may deny credit - too many recent late payments, collections, charge-offs and the like. Efforts are usually better spent in improving one's credit history instead of looking for a program that accepts their low score. Why? Because if you can't improve your credit history without a mortgage, adding one almost never makes your payment history improve. Unless you already own a home YOU CAN NOT finance other debt into your mortgage - you need to pay those debts on your own.

Everyone on this site loves home ownership but owning a home is not for everybody. If you have poor credit, take the time to evaluate your credit history and start making meaningful changes to improve your credit rating. Ask a lender you trust or visit sites such as www.mymoney.gov or www.myfico.com