If you have had a foreclosure, short sale or bankruptcy in the past few years, I am sure you are like most customers I run into. They always ask, “Hector when will I be able to purchase a home again?”.
This is a great question and concern that should have been addressed prior of the decision to foreclose, short sale or bankruptcy.
Also, please keep in mind a foreclosure + bankruptcy can always be much more negative than either one alone.
At this point in time, if you wish to obtain an FHA loan, you must wait at least 3 years after trustee sale for a foreclosure, 3 years from completion/closing of a short sale if you were in default and 2 years from discharge date of a bankruptcy.
If you want to pursue a conventional loan, you must wait 4 years post chapter 7 and 11 bankruptcy with some exceptions, 7 years post trustee sale for a foreclosure and 3-5 years post short sale closing.
But there are ways to buy with out credit
- Down payment of 35% or more with a private investor with high interest rate
- Rent to Owned
You can have a lawyer firm fix your credit, check this group georggin law
Do you Owe More than your Property is Worth?
Are you upside down on your Mortgage?
Is your home worth less than you owe?
DON’T JUST WALK AWAY!
To Find out more on how we can help you, gives us a call at 877-611-2288 or 714-231-9061 or email Hector Reyes email@example.com
Hector Reyes, Short Sale Specialist
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