Profile picture for user294625

would a credit union approve a bad credit mortgage to someone with a foreclosure 4 almost 5 years

Me and my spouse was a product of sub prime mortgage crisis and have learned from our mistake. We wish to buy a home below our financial means. The home we are looking at is a $26,000 Fannie Mae foreclosure we plan on putting $6,000 to $8,500 down. The house is worth $50,000. We have $10,000 saved up but I want to with old some for closing. Do we have a snow balls chance?
  • March 30 2012 - Watertown
  • 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 (1)

Hi, i have a lender that is currently processing new mortgages and people who have foreclosures 3 years in the past.It definitely has been done.There are a few other factors to consider.Feel free to call or email me for the lender's contact information. [Contact information and website removed by Zillow moderator. Please see our Good Neighbor Policy for more information.]
  • March 30 2012
  • 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.