Two years ago I had a foreclosure, my income has increased and the reason for the delinquency on my prior loan was due to complications in my pregancy that put me on disability for six months. We are living in a rental but the landlord was using our rent money to pay the mortgage on his personal home and now the hose we live in is foreclosing. There are many houses in our area selling for dirt cheap, I’m talking like k-5. Do I have a chance to buy another house?
9 thoughts on “I have a foreclosure, can I still buy a house?”
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It’s a little tricky, however you can always try. Before you try, study carefully. Try to read on sites that give Foreclosure Advices (like http://www.simpleforeclosureadvice.com/ ) and don’t just jump into the pit. It requires great timing.
Hope this helped a bit.
You can try, but, I think it is too soon after your foreclosure.
Since we are trying to do this now and we’ll have an answer on ours on Monday, this is what I can tell you. It must be at least 3 years before a lender will lend to you. I’m sorry, you can double check, but that is what we were told as there is one on our credit.
As far as I know when your home get foreclosed on, you credit will go bad. If you live in California and this happens, then you can’t purchase a home for six years only if you are getting a loan.
However, if you are buying cash that is another story. You can buy a house at will. 🙂
When applying for a home loan your credit report will be reviewed and you may be required to provide a number of other details, including: Employment and income records, Tax Returns for the last few years List of assets, List of liabilities and what you owe, Your budget showing monthly living expenses so that you can demonstrate an ability to pay.
http://www.worldbestloans.com/homeloans.htm
With this information you and your lender will be able to determine the kind of home loan and size of the right mortgage for you. In some cases, you can obtain a pre-approval or pre-qualified certificate, which shows how much you can borrow so that you can then shop for homes in an appropriate price range.
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I usually do not create many remarks, but i did a few searching and wound up here I have a foreclosure, can I still buy a house?
| Real Estate For Fun And Profit. And I actually do have a couple of questions for you if it’s allright. Is it just me or does it look as if like some of these responses come across like they are coming from brain dead individuals? 😛 And, if you are posting on additional online social sites, I’d like to follow everything
fresh you have to post. Could you make a list of all of your public pages like your Facebook page,
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