Can I Get a Mortgage Loan with Some Bad Credit History ?

I have held the same Job for 25 years, but I have some negative payment history. Can I still purchase a home in the South Bay.

• Employment status or employment history has nothing to do with your credit score, but some lenders may review it to determine if you are stable enough to repay a loan.
• Your income has nothing to do with credit scores. Your savings has nothing to do with your FICO’s credit scoring equation. However, some lenders may consider these factors to determine the likelihood that you will default on a loan.
• I cannot get a loan due to poor credit. This is not true. There are many lenders who give loans for bad credit but charge high interest rates.
• Bad Credit never goes away. With sound debt-management practices, the negative marks will eventually vanish. Late payments, bankruptcies, foreclosures and collections typically remain on your credit report for seven years. (The exceptions are Chapter 7 bankruptcies and tax liens, which remain for 10 years and indefinitely, respectively.)
• All Credit scores are created equal. Each of the three major credit bureaus produces a FICO score based on the information it has about your credit history.