Comment by thantik@lemmy.world on Anon on credit scores

No credit. No score. Still bought house. There are ways around the system. Same for my cars usually. Buy them at auction. Ditto for phones. You don’t need that new $1200 iPhone. A used one for $250 cash and holding onto it for 6 years is much better.

Got my house through Habitat for Humanity. (And that’s not a free house program. Ask me if you want to know more.)

I was fortunate, but there was some motivation involved.

H4H works very well for very well qualified and motivated people. Im so glad you were able to make it work.

Hahahahahaha, “no credit, still bought a house”, ok mr my uncle left me gold bars in his will, the leprechauns showed me the end of the rainbow, hahahahahaha

It’s incredibly expensive being poor, lots of people are poor, there are of course ways to be poor, and without good credit, but everything costs three to four times as much in the end, if you don’t have cash on hand.

The Sam Vimes “Boots” theory of socioeconomic unfairness by Terry Pratchett’s Ringworld comes to mind: https://en.wikipedia.org/wiki/Boots_theory

Can it be done without a credit score, sure, is it incredibly difficult and in the end more costly, almost always

Been poor my whole life. Guarantee 99% of people on here make far more than I do. I can’t work as much as others due to health issues, and I still managed it though cunning, sacrifice, and good timing.

when you’re poor that’s the only way to do it my man, most of the world is poor, ain’t no shame in it

You’re pretty massively understating how much timing played a role in your specific case.

The timing was more a factor of having a real estate agent as a friend. If you’re using bullshit like Zillow to look for properties, then you’re an idiot.

Zillow is not MLS, and most of what people are seeing ‘on the market’ is shit that’s left over from being snagged up. Get yourself a real estate agent that can keep an eye out on property for you, and there are plenty of deals that come across their desks that you could be notified of before it hits general availability. They don’t make money unless they find you something, so they are generally on the ball when it comes to keeping an eye out. Everyone here whining is just showing their inexperience and lack of drive for actually fixing their situation. Instead they just want to be stuck in a rental loop their entire lives.

No, you bought in 2008 when prices plummeted to insanely low levels due to economic collapse that was ALMOST worse than the Great Depression. There were lots and lots of modest or shitty houses like yours available for cheap then, all over the country.

It was 95% that, and maybe 5% your resourcefulness and willingness to sacrifice or whatever.

Buying a house like yours for 30k (even inflation-adjusted) are nearly nonexistent in the vast vast majority of the US at this point. They’re definitely not out there by the hundreds of thousands in lower-middle income neighborhoods like they were in 2008-2010.

For a significant number of people to be able to do the same thing in the same way, there’d have to be a similar cataclismic event again.

What the fuck kind of wankjob is upvoting this boomer-tier “Just don’t buy Starbucks” horseshit?

“Just pay cash for everything on your $25k a year! You can totally buy a house if you save for the next two decades!”

Fuck off.

I make less than $25k/yr, lol - I learned to fix my own beater cars. Bought a 3/2 during the 2008 crash for $30k because it was almost gonna be condemned, and was a by-owner sale - I only needed like 8k down, and then worked on fixing it up myself. It was barely livable when I bought it.

So all people need to do is wait 15+ years until a depression-level market crash. Got it.

I think you mean 1 year. Lol

Well it’s been 15 years since 2008…

And then live in squalor while you do home repairs yourself what all that free time you have.

I give it 4, if that. I’ve already been though 3 “once in a lifetime” depressions.

And your dumb ass thinks that buying a house right now is possible on less than $100k a year. Yeah, you’re a fucking moron.

I will reiterate my fuck off.

I did the same kind of thing he did, bought a meth lab in 2011 for 50k owner carry contract, evicted the meth heads (that was fun) then gutted it and spent a few years sleeping on the floor, working full time for $16 an hour at day and fixing up the place at night. Had an electrician and plumber friend come show me how to do stuff and help me out for pretty cheap. Sold it in 2020 for 175k when I got married and used that and the new wife’s credit score to get our family house where it’s safe to have kids

A lot of luck and a lot of work. It’s not easy and there was a lot of luck involved for sure.

100% no argument at all. I feel very lucky that I was able to do it, and very sad that that’s what it takes….

It’s cool that you were able to improve your situation with a lot of luck, hard work and sacrifice but a basic middle class existence shouldn’t require a lot of luck.

You can too - just need to be willing to live in a shithole for a while.

My guy, the shitholes where I live sell for $100k minimum, and come with several hundred a month in lot rent, because they’re trailers. A shitty condo is $200k or more, plus, again, a few hundred a month in association fees. I could move somewhere with a lower cost of living but I’d easily take a 50% paycut, so I’d be in the same situation. It’s not about not being willing to live in crappy places, it’s about even the crappy places being well outside of what nearly everyone can afford without a mortgage.

You really should take advantage of any first time homebuyers programs you have in your state, and talk to a real estate agent to keep a look out for you. Deals pop up all the time, and the reason you’re not seeing them is you don’t have access to the multiple listing network (MLS), while a real estate agent does. All you see on the market is “what’s left”, after shit gets snagged up. You have no idea what’s available out there.

Yes, having money available so you don’t need credit bypasses the whole system. Have fun buying a house.

Bought first home in early 2000s, sold that one and bought another since then. There is no way I would have been able to save up enough to pay cash during that time.

I didn’t claim to have paid all-cash for my house. I had a mortgage, I simply found a predatory by-owner lender and worked through all of his bullshit. They offered my mortgage on balloon, seeing that basically nobody ever managed to get a house paid off during the balloon period. So I did without…basically everything, for 8 years while I put every last penny I had to paying it off before the balloon was due. Lender said he’d been doing this for 45 years and had never seen anyone pull it off and he’d be happy to sell me another any time.

But during this time, I was paying what I would pay in rent, as a mortgage, basically paying MYSELF. Everything I worked so hard for and paid into during that 8 year stint, is STILL MINE. Every penny I paid, I still own. Meanwhile, everyone here sits on renting shit for $2k-3.5k/month and whines about never having enough money for anything.

And if you’re sitting there saying to yourself “30k over 8 years?! wtf that’s not hard?” – well, I was in the middle of my cancer treatments as well, and I can’t work nearly as much as anyone else. So it’s kind of hard to sympathize with the dipshits saying they make $80k/yr and can’t afford a house, when I made it work during cancer treatments and less than $20k/yr.

You’re getting down voted because you told the truth. Shame

Greentexts, memes, everything 4chan.

Anon on credit scores(sh.itjust.works)

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