Profile picture for SarahHollandMumby

Is it possible to buy a house if you have had a foreclosure?

One spouse has excellent credit, but is not working.  The other spouse has had foreclosure but good income.

  • October 15 2012 - Pensacola
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Answers (3)

Profile picture for JPyszChicago
You can get FHA financing after 36 month form foreclosure and conventional after 5-7 years depending on the bank. Of course , there are other factors like your credit situation overall, earnings, obligations, etc. However FHA guideline is 36 months.
  • October 17 2012
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yes, your and story is a common one. its all with time past. I'm not a morgage Lender but I know one who is willing to work with you to help you get to the place you need to be to get approved give me a call 850-221-6788 and I will behappy to help you out in anyway that I can
  • October 17 2012
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Profile picture for wetdawgs
One can buy after a foreclosure after some time (years) have passed.   What was the actual date of  the foreclosure? 

If income is going to be counted towards a mortgage application, then the person with the income must be on the application. Therefore,  the foreclosure may affect the eligibility.

  • October 15 2012
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