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Mortgage after foreclosure

Is there any way to get a mortgage after a foreclosure?  It was one of 2 houses I owned and have kept current on the 2nd house.  Even with big downpayment?
  • February 03 2014 - US
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Answers (5)

Yes! We have an exclusive portfolio program that will allow you to buy again right away. There's no waiting period. You would need a 20% down-payment plus a 660 mid FICO score in order to qualify. You didn't mention what state you are buying in.. This loan is available in AZ, CA, CO, DC, FL, HI, IL, MD, MT, NV, NJ, NY, NC, OR, SC, VA, WA . Good Luck!
  • February 05 2014
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First of all, there is a waiting period you must sit through after you have a foreclosure. The waiting period for conventional and FHA is 3 years from the finalization of the foreclosure. Although there is one exception. If you experienced an economic event that resulted in a loss of income causing your to foreclose, then your waiting period is reduced to 1 year for an FHA loan. If you have to sit through the waiting period then I recommend spending this time rebuilding your credit and savings. Well I hope this helps. If you have any further questions or if you would like a loan, feel free to contact me.

Good Luck!
  • February 04 2014
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We have a program that allows you to purchase a primary residence with just 20% down with no waiting period after a foreclosure.  Please contact me if I can help or you would like more details. 
  • February 03 2014
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You are eligible for FHA financing three years after the foreclosure. The required down payment for this types of financing is 3.5%.
  • February 03 2014
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How long ago was the foreclosure?  If 3 years, yes, you can qualify for a FHA loan.  FHA loans must be for owner occupied properties, so not sure if this will help or not.  Feel free to reach out through my profile for more answers.  Thanks!
  • February 03 2014
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