Answer: -As a credit Officer, there's credibility problem if the debt increases, since its of almost importance to you, l advice you concetrate at paying gradually the bad credit first before generating another credit card to buy the home you need. The pressure of paying for a new home from your husband's income would be too much. Take time to pay down the first home. It's your home for now. Avoid another credit card. If you so wish, Bank of America would write off your bad credit and merge it to a new credit card by expanding it for you. -It won't be easy anymore, since lenders are tightening up criteria for granting mortgages. If your FICO is in the low 600 range, you may have an extremely difficult time finding any lenders who will approve you for a mortgage.I can only recommend doing your best to repair your FICO score as well as you can, and then start looking for available mortgage funding. -Well the question becomes why are you looking to buy a second home if you are having trouble in the one you are in now..?Just wait until your credit situtaion improves. Or until you save up enough for large downpayment. Anything over 20% down almost guarentees you a mortgage.. even with bad credit.