Answer: -Don't lose hope if you're looking to buy a home. There are so many different ways to fund a home now, just about anyone with any kind of credit can get into a home, regardless of credit situation.Of course, some will cost you more money in the long run, but a home it's still one of the best investments that you can make, so, in many cases, it's worth it, especially for the first year of ownership.You should shop around, and ask different lenders what kind of programs they have, and if they can help. Try to find a lender that specializes in bad credit mortgages. -it is POSSIBLE to get a loan witha score above 500. that doesn't mean you should. I recommend renting while you build up your credit other wise you will be paying interest rates well over 10%. Aim for a 620 which will get you in the prime lending area which will give you the best rates depending on your situation.. -Many lenders will try to help you, but some may get you into a high interest, high fee mortgage - the kind that is fueling the current foreclosure trends we are seeing.I strongly recommend working on your credit issues first. Your money will go much farther, and you will have a lower house payment. -I had a similar situation when my wife got sick and eventually died. I found an excellent web site who helped me get reestablished. www.1-800BadCredit.com helped me and I am sure they can help you also. They offer many credit services.