Habitat Foreclosures
Habitat for Humanity Question?
Okay so I just got the mail and I found a foreclosure letter for our house 
were gonna lose it in 60 days. I’ve lived here all of my 18 years and I got a job to help out with bills and all but my mom still can’t keep up with the payments, she pays like 850 a month plus light,internet,gas, tv, and water. I only help out with about 50-100 bi-weekly so its about 100-200 bucks a month and gamestop doesnt give raises that easily. my friend was telling me about how he pays 350 a month plus utility and no interest fees with habitat for humanity. my question is, if we were to apply how likely would we be accepted? Currently my mom is divorced and me and her are the only ones working, my dad applied for bankruptcy and doesnt pay child support cause of it or something like that. and I think my mom is in bankruptcy as well with my dad. basically were in the shit, but if we get approved we can totally keep up with the payments and get all this damn stress off of us.
Your chances are close to nil. If you are now in foreclosure and both your mom and dad have gone thru or are in bankruptcy, that is a sign that they take their financial obligations not very serious and their credit score is about 500 or less and no bank or financial institution will loan them ANY money.
As to Habitat for Humanity, their mission is to make home ownership available to financially responsible low income families. Instead of a cash down-payment, the prospective homeowners must physically help to build the homes in that project. I believe they have to contribute 500 or 1,000 hours of manual labor in the construction of these homes, which is their sweat equity in the new home. People who have a substantial investment of their time in a home are less likely to default. But here are links to websites with further information:
http://en.wikipedia.org/wiki/Habitat_for_Humanity_International
http://www.habitat.org/getinv/apply.aspx?tgs=Ny8xLzIwMTEgMjowNDowMyBQTQ%3d%3d
dome video.MOV
