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IF I HAD A FORECLOSURE IN 2007 COULD I STILL BUY A HOUSE NOW THAT I AM SETTLED DOWN?

  • April 24 2010 - West Sacramento
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Answers (6)

You have to wait minimum 3 years after foreclosure to buy a house assuming you didn't have any other late payments.
The easiest way is to start building your credit right after the foreclosure. Do you know your current FICO score?
  • August 26 2010
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Alot will depend on the circumstances of your foreclosure.  I have recently found out that there are different types of foreclosures you can go through, which your lender will have access to look up.  Technically after 2-3 years there are different types of products and loans that can help you qualify to buy a home.  Unfortunately you will most likely pay more points and fees than normal.
  • July 23 2010
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Profile picture for klarek the realist
"Yes, it is possible with the right kind of loan."

Sounds more like the wrong kind of loan.
  • May 06 2010
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You can try but we see is around 7 years to be ready to buy again. With a short sale, it's about 2 years. Better for people to short sale vs foreclosure.
  • May 06 2010
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Yes, it is possible with the right kind of loan. If you have been out of bankruptcy/foreclosure for 24 months then you can qualify for a new loan...if everything else since then has been paid on time and is current. I have a friend who owns a mortgage company named Swift Home Loans. There is a link to his site from mine, and they also do free credit repair work if you need it. Best of luck!

http://www.bedlamrealty.com
  • April 25 2010
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Profile picture for first2010
Try NACA.com
  • April 25 2010
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