There is still a glimpse of hope for those of you out there with less than perfect credit history. There are plenty of high-risk lenders out in the market, but they will charge you outrageous interest rates. There is one more alternative, the government. The FHA (Federal Housing Administration) provides help to those who cannot secure a mortgage at a decent rate. The do this by insuring the mortgage. If you default the government will make the rest of the repayments and your home now belongs to the FHA (which means you get kicked out). You need to apply to the FHA and make sure you are eligible. There are private insurers of mortgages, but they have stricter guidelines on which consumers are available.