Profile picture for jamesv.

if i want a foreclosure home can i refinance my home and buy it if i am un employed at the time of p

  • November 11 2009 - Quartz Hill
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (4)

With the changes in mortgage loans, there are no loans available unless you can provide employment income to qualify.  You could get a private loan from a friend or relative and they can lien your property for the mortgage the same as a lender.  You could make them a partner in the purchase of the foreclosure or offer a percentage of the profit.
  • November 11 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

i would suggest you contact a mortgage broker to discuss your situation.
  • November 11 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for wetdawgs
Chances are good that the refinancing with cash out (which is what I'm assuming you are proposing) would not go through if you are unemployed. 
  • November 11 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for sunnyview
I don't think so. I wouldn't think that the underwriters would be willing to lend money for a mortgage if you are not currently employed. You might want to ask the mortgage board directly here if you want to know for sure. The lenders on the board are up to date and can give you a more definite answer than I can.
  • November 11 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.