Foreclosure in 92585>Question Details

ana, Home Buyer in 92582

how long till i can buy a house if i lost my house on 2010 and i did a bk?

Asked by ana, 92582 Mon Apr 18, 2011

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You might be able to do a lease-option sooner, but it's probably too soon to do that right now too. Have you resolved (or are you taking steps to resolve) the issue(s) that lead to the foreclosure and bankruptcy? If not, then work on that first.
0 votes Thank Flag Link Mon Apr 18, 2011
This really depends on if you conducted a short sale or if your house was foreclosed on, and also on what type of bankruptcy you did. But as a guess you're looking at 2 to 5 years or more, depending on your credit otherwise.
0 votes Thank Flag Link Mon Apr 18, 2011
Ana,
Usually it is 2 years after a BK.
however you said you lost your home.
I take it this means you foreclosed it.
Usually after a foreclosure it is 5 years.
Take all your information to a local lender.
Foreclosure paperwork, Bankruptcy paperwork,
plus last 2 years w-2's
last two months bank statements
last two months work pay stubs
and be ready to bring more.

Harold Sharpe - Broker
So Cal Homes Realty
(951) 821-8211
harold@socalhomesrealestate.com
http://www.socalhomesrealestate.com
California Department of Real Estate Broker License # 01312992
0 votes Thank Flag Link Mon Apr 18, 2011
Was it a bk 13 or 7? If a 13 you could buy right away. You can buy on a contract for deed right away as well. There are lots of sellers that want to sell on a contract. Not very many Agents know how to put those together. Do you have some money to put down? You can buy on a contract with 20% down and even 10% down in some cases. 10% down is a minimum. Email me if you have anymore Contract for deed Q's. I've done a lot of them.
Good luck.
0 votes Thank Flag Link Mon Apr 18, 2011
if you had a foreclosure then FHA requires 3 years but under certain circumstances you maybe able to get a FHA loan within 2 years but it will take some extenuating circumstances. hope this helps.

Jeff Onofrio
AnnieMac Home Mortgage

http://www.whatisyourrate.com
0 votes Thank Flag Link Mon Apr 18, 2011
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