Financing in Elk River>Question Details

Dobie, Home Buyer in Elk River, MN

have foreclosure from 8 months ago. want to refinance my current home. have 60% equity in it. will I be able to?

Asked by Dobie, Elk River, MN Sun Dec 2, 2012

Help the community by answering this question:


It's unlikely that you will be able to refinace in the first three years after a foreclosure regardless of your equity position.
0 votes Thank Flag Link Tue Apr 16, 2013
Not with a typical mortgage. FHA is 3 years after the foreclosure and conventional is longer from when you can obtain a new mortgage.

I would try contacting local small banks.

You could also try to dispute the foreclosure, The credit repair company that I send my clients to has been able to get them removed from some peoples credit due to errors in the recording of the foreclosure.

0 votes Thank Flag Link Thu Jan 17, 2013
Hi Elk River, Consult your lender.
0 votes Thank Flag Link Tue Jan 15, 2013
Unfortunately, not for some time with conventional financing...likely a couple years plus.
0 votes Thank Flag Link Tue Jan 15, 2013
I know a lender out of the Elk River area that is amazing at her job. She has a path to buy program that doesn't cost a thing. If you cant she can get you on the right course to figure it out. Her name is Molly Nadeau with Waterstone Mortgage. She can be reached at

Good luck to you.

Warmest Regards,

Vivian Sylvester
Keller Williams Classic Realty NW
0 votes Thank Flag Link Wed Dec 5, 2012
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