It seems now more then any other time more Americans have bad credit. This bad credit is normally the result of to much consumer debt, missed payments and even bankruptcies. Many people eventually recover from there financial set backs but are still left with the scars of their past on their credit reports making home financing seem impossible. Even In todays tight mortgage market there are options for securing home loans with low fico scores. This article will discuss the options you have to finance the American dream, even with bad credit!

As lenders are tightening their lending guidelines and eliminating sub-prime loan programs it is important to understand that there are still options available for people with less than perfect credit.

If you have to make a choice between paying your mortgage or paying several credit card bills, it will help more in the long run to always pay your mortgage on time.

One program that helps people recover is the FHA Secure program. This program is for borrowers who have adjustable rate mortgages. Under the FHA Secure plan, FHA will allow families with strong credit histories who had been making timely mortgage payments before their loans reset-but are now in default-to qualify for refinancing.

If you have to make a choice between paying your mortgage or paying several credit card bills, it will help more in the long run to always pay your mortgage on time.