Foreclosure in Tempe>Question Details

Cynthia, Home Buyer in Phoenix, AZ

Within the past year I have had my home forclosed. I am wanting to purchase another foreclosure property. Is this possible or am I just dreaming?

Asked by Cynthia, Phoenix, AZ Tue May 22, 2012

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Cynthia,
we have a new program called the Fresh Start Loan. Foreclosure , short sale and bk ok. It is a 30% down program for primary residence only. It is private money. If you would would like more information please feel free to contact me with questions.

Jason Coleman
602-451-5472
SavingsandLoans@yahoo.com

Sr. Mortgage Specialist
Peoples Mortgage
LO-0912248
0 votes Thank Flag Link Tue May 22, 2012
We also have a new program we are calling the "Credit Repair Program"--designed for those who have experienced an ISOLATED ding to their credit. Can do 6 months after Chapter 13 or 7 are discharged; no seasoning for Short Sale, Foreclosure or Deed in Lieu as long as all other installment credit is paid as agreed. Will do purchase or rate and term refinances to 70% Loan-to-Value (LTV) and to 60% cash out. Condos not allowed. Etc.--please contact me directly, if interested.

Take care.

Bill Parker
Legacy Group Lending, Inc.
480-993-3080
Bill.Parker@LegacyG.com
1 vote Thank Flag Link Wed May 23, 2012
My mortgage connection is telling me that with FHA you can be back on the market in as little as 3 years with 3.5% down. Let me know if you want me to provide a contact so that you can discuss with him in person. Good luck on getting back into the market!
1 vote Thank Flag Link Tue May 22, 2012
You are dreaming. No matter what programs are out there if you don't have a huge downpayment you are not buying again anytime soon.

Sorry,

Pat Hune
1st Southwest Realty
1 vote Thank Flag Link Tue May 22, 2012
Hello Cynthia,

The Lender I work with, provides one of the best home purchase program in America. As of 5/3/2012: They provide FREE personalized and comprehensive counseling to Members to address your particular credit and financial issues and help determine a mortgage payment that you can afford. The counseling and underwriting criteria are “character-based” and not based on credit scores and ratios. They also include the following:
No Down Payment,
No Closing Costs (The Lender pays them and does not include them in the loan),
No Lender Fees,
No Pre-Payment Penalty,
No Mortgage Insurance,
No Perfect Credit,
Fixed 30 year below market rate at 3.5%

If you are interested to know more about this Program please contact me.

Have a GREAT evening!

Vivien L Biggs PLC
602-615-9137
Prudential Arizona Properties

Check MLS for homes on my website
http://www.realestatecore.com/
0 votes Thank Flag Link Tue May 22, 2012
Cynthia,

You will definitely want a bit more time to pass before you attempt to take out a conventional loan for purchase. There are hard money options out there, that will come will a large down payment as well as higher interest rates. I would recommend doing some credit restoration and enhancement in the meantime so you are ready in the next 24 months.

http://www.MyCreditPro.Biz
0 votes Thank Flag Link Tue May 22, 2012
If you're hoping to obtain conforming financing, like FHA, VA, Conventional, etc., then please don;t shoot the messenger --> you're just dreaming. You'll need at least 2-4 years behind you.

In the meantime, build your credit and save as big a down payment as you can.

All the best!
0 votes Thank Flag Link Tue May 22, 2012
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