Foreclosure in 95320>Question Details

Brans22, Renter in 95320

how long after a forclosure can you buy again?

Asked by Brans22, 95320 Fri Apr 8, 2011

Help the community by answering this question:


Robert Chomentowski’s answer
Waiting periods to buy after foreclosure:

-VA - 2 years
-FHA - 3 years
-Conventional - 7 years

Make sure you check when the property deed on the foreclosure transferred out of your name. That is the date from which the timelines begin. Contact me if you want me to look up that deed transfer date.
0 votes Thank Flag Link Sun Mar 18, 2012
Hi Brans,
My current lender of choice is requiring 3 years from the foreclosure date.
I know there are exceptions to this rule.
Additionally it is important that you continue to pay your bills on time.
Lenders may be able to accept a buyer with a previous foreclosure but not too many will accept a forclosure and late and missed payments thereafter.

Since I am not a loan expert I always refer people to my Lender of choice he provides the best information for each specific situation.

Please feel free to call or email me if you would like his contact information or if you have any questions.

Taj Weldon
Real Estate Agent
DRE 01816152
0 votes Thank Flag Link Sat Mar 17, 2012
There is a program called NACA that offers low interest rates that are fixed currently 3.875% No down payment, no cosing costs, no fees, no perfect credit. You can get into your next home 2 years from the date of losing or short selling. The program takes more work than your average mortgage lender. They do require you to go to workshops and helps with credit repair. Is it worth it you bet. Another bonus with this program is you can buy down your interest rate instead of asking lender for credit towards closing costs. Each point buys down interest .25%. This program is one of a kind. Find more information at Then remember who shared this program with you:-)
0 votes Thank Flag Link Wed Mar 14, 2012
Quickest is with an FHA loan - 36 months from the sale date. Assumes re-established credit, adequate FICO score (aim for 620 or more), and no "oops" like late payments on any accounts after the foreclosure.
0 votes Thank Flag Link Fri Apr 8, 2011
If you were foreclosed upon, the general wait time could be 7 years....but because there are so many people affected by foreclosures, maybe there's hope to shorten that time period, provided that you do everything you need to do to repair your credit.

That means paying down your outstanding balances, paying on time, for starters.

Here's a good blog about this situation…
0 votes Thank Flag Link Fri Apr 8, 2011
You might want to consider doing a lease-option.
0 votes Thank Flag Link Fri Apr 8, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer