Financing in 39120>Question Details

Theodore, Home Buyer in Natchez, MS

HOW CA I GET QUALIFIED TO REPURCHASE MY PROPERTY WITH NOT SO GOOD CREDIT?

Asked by Theodore, Natchez, MS Wed Dec 30, 2009

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If you don't have cash and can't find private money it will be extremely difficult.

Traditional lending institutions won't give you a loan immediately after a foreclosure. You need to wait a minimum of three years.

You can get an FHA loan within three years of a foreclosure but only if you can document extenuating circumstances (serious illness or death of a wage earner are the only acceptable extenuating circumstances).

Even if you document extenuating circumstances many underwriters won't want to sign off on your loan, but that would be your best bet-to try for an FHA loan.
0 votes Thank Flag Link Wed Dec 30, 2009
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