in Baltimore and Surrounding Areas


Costs of Having Bad Credit

Have you tried opening a credit card recently? Booking a hotel online? What about renting an apartment? These things should be fairly simple, but when you’re struggling with bad credit, or no credit at all, even these seemingly easy tasks can be a challenge, and sometimes costly. You may have had good credit at one point in time, but when life is throwing you punches, sometimes credit scores can go down quicker than you realize. And that leaves you in one of the many difficult situations listed above. So before you try to sign up for a department store credit card, learn some of the downsides of having bad credit.

At Legacy Investment Group, we buy houses regardless of your credit score or financial situation. All we want to do is help you experience the relief that comes with being financially independent. Keep reading to learn more about how our quick house sale process works.


Bad Credit Can:

Cause Harm to Your Relationship

Whether you’ve been in a relationship for 30 years or 30 days, when one of you has poor credit, it can be a significant strain on the relationship. If you have ever promised your spouse that you would make a payment on a growing credit card balance, but find that you just don’t have the funds, this creates a stressful environment that can be difficult to overcome. In fact, debt in general can be a stressor, whether it’s a mortgage or credit card.

Prevent You From Getting Emergency Funds

Whether you fell and broke a leg and had to go to the emergency room, or if your furnace went out was added to the already long list of repairs that are needed on your home, access to emergency funds can be incredibly beneficial in these situations. However, having a savings fund and good credit rarely go hand in hand. And with low credit, it can be a challenge to get approval for a personal loan to cover emergency costs.

Raise Car Insurance

A majority of people rely on their car to get back and forth to work every day, but unfortunately, some insurance providers relate late payments to bad drivers. When you are denied car insurance, or your rates increase, it adds to the expenses of owning a car. And when you are having financial difficulties in the first place, higher insurances rates are the last thing you need.

Make it Harder to Refinance

As if getting a reasonable interest rate on a mortgage isn’t hard enough, with the past housing crisis, your credit score is that much more important. The same goes for refinancing your home to hopefully get a better interest rate. If banks don’t clearly see that you are able to make payments on time and effectively manage your debt and finances, they may not be able to help you with a better interest rate.


Make it Harder to Rent

If your bad credit has made it impossible to buy a house, it may only be slightly easier to apply for an apartment. Landlords look at your credit score to ensure you are capable of paying rent on time. If they find poor credit, they may not want to risk the time, effort, and money of having to potentially evict you for late payments.

Cause a Lack of Disposable Income

When was the last time you looked to see how much money you’re spending each month on interest fees, or late payment fees? If you have credit card debt, a car loan, a mortgage, or student loans, you’re essentially spending money each month just to keep this debt. Even with a low interest rate of around 3 percent on each debt, that’s 12 percent total that’s taken away from your disposable income. The income per person in Anne Arundel County is around $42,000 a year; so in just one year, you’re losing around $5,000.

We Buy Houses in Anne Arundel County Regardless of Your Credit Score

The real estate industry is one of the more challenging ones to deal with when you have poor credit. But the good news is that Legacy Investment Group doesn’t care what your credit score is. If you need out of your mortgage, we can help.

How Does it Work?

Whatever your reason is for wanting to sell your house fast, we make the process as easy as possible.

  • Call Us: When you get in touch with our team, the only thing we’ll ask for is some basic information about the house you’re selling.
  • We’ll See the House: In order to make you a cash offer for your house, we need to complete an inspection. But don’t worry, we’ll still make you a cash offer regardless of the condition.
  • We Make an Offer: When we have all of the necessary information, we’ll make you an offer on your home. We never look into your credit score or ask you to make any repairs on the home.

If you’re worried about your credit score and are looking for someone to buy your house fast, Legacy Investment Group is here to help. We buy houses without asking about your credit so you can finally feel the relief of financial independence.