Foreclosure in 93722>Question Details

am.martin723, Home Buyer in Browns Mills, NJ

Can I purchase a foreclosed home if my husband has good credit and I have bad credit?

Asked by am.martin723, Browns Mills, NJ Fri Jun 1, 2012

My husband and I are searching for apartments but we found a couple foreclosed homes that for us would be cheaper. We are recently married have a four month old son and we have a child on the way therefore space is necessary. However my credit score is bad and his is good.

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James Ryan’s answer
Hi am.martin723,

Congrats on the new baby. Unfortunately, there is not enough detail in your question to give you a complete answer. Find a great loan officer to go over all the facets of lending with you and allow the loan officer to analyze your situation. You should have your answers after only 20 or 30 minutes on the phone from the comfort of your home. I would be happy to help!

Best wishes, Jim, American Bank
0 votes Thank Flag Link Fri Jun 1, 2012
It would not matter if you want to buy a previously foreclosed home, short sale, regular or whatever type home. You have to borrow money from a lender and you need to talk to them to see if you can. It won't much matter to them if it had been foreclosed or just being built.
0 votes Thank Flag Link Fri Jun 1, 2012
If you husbands income is high enough to qualify for the mortgage on a home you could purchase. He would be the only one on the loan but you both could be on the deed. Speak with a qualified lender to see how much he can qualify for.
0 votes Thank Flag Link Fri Jun 1, 2012
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