Your first visit is with a trust worthy mortgage banker. He/she will be able to tell you if you can get financing and under what circumstances. He/she would also be able to pre approve you for the amount required to buy real estate. I would not do anyhting else. Once this is completed, you will know your options. You can come speak with me in a no obligation meeting. firstname.lastname@example.org
Regret to hear of the problems you have had in the past.
You should start by first checking to see what your FICO scores are, go to the site
http://Www.myannualcreditreport.com. Get a free copy of your Credit report, you are entitled to one
Every twelve months.
After reviewing it thoroughly the next steps will be to get in touch with a lender who deals with
Your situation, or if you have problems finding a suitable one give me a call.
I have some hard money lenders who would be able to help you.
Tstruble, what is the amount of down payment you can put down?
Did you have anything to do with the purchase of your past home or do you want to blame everything on the "bad loan company". I would need clearity on your definition of "bad loan company". I see alot of people recommending you start with a good mortgage person. I suggest you start by reading the contract before you sign it and if you do get credit make sure you can afford the payments. I see too many people blame the mortgage company (I'm not defending them) for everything when you have to take a little blame yourself. You should only buy what you can afford and make sure you work with reputable professionals in both the mortgage business and the real estate business.
Another suggestion is to make sure you can afford the down payment and have some money saved in the bank. That is how you take care if your family.
I'm not intending to sound harsh but you need to face reality and do your homework. This is one of the biggest investments you will make in your like.... please do it right, you'll have less headaches.
To be honest, looking at your situation right now, it's very unlikely you'll find someone willing to loan you money. I know it's a tough pill to digest but I have worked with many lenders for my buyers and know the lending is really really tough out there. What you need to do is work with a reputable credit repair agency and start from there. Once your credit is repaired, you may have a chance. Until then, you'll just run around from one lender to another submitting dozens of documents just to be turned away. As much as I hate to give you bad news, I think it will save you the heartache of being turned down after putting in so much effort. Good luck.
1) Find seller financing homes
2) Find portfolio lenders who may individually evaluate your credit. You'll have to be able to document that you have been paying for your rent and other payments on time after the foreclosure.
3) Mortgage assignment strategy.
Feel free to email me if you have questions on any of these strategies. Helen@HaylenGroup.com
1) When did the foreclosure sale take place
2) How has your credit been since the foreclosure
3) What kind of financial assets ct an you committ to closing
From that point you and your loan officer can establish a timeline for when and if you will be able to purchase a new home.
Let me know how I can help.
Best of Luck!