Where can I obtain a 1st time mortgage loan but with terrible credit and good income in Chicago?

My credit score is really low because I chose to settle my credit cards with the lenders due to the economy and crazy interest on the cards. I just stopped paying them in order to get a settlement on them. Anyways, the cards will be paid off soon but my credit is super bad like 480….but I make good money at my job and I can afford the monthly mortgage. I really want to purchase a home….less than 100,000. Who does loans in this situation? Thanks!!

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