That's a great question for a Certified Mortgage Planner like Steve Gronlund @ 951-551-8161 or Chris Wiggins @ 760-519-7090 who are Mortgage Experts.

Warmest Regards,

UTPAL 'Paul' PARIKH, Certified ABR,CSP,e-PRO,GRI,SRES,REALTOR
V.P - Membership WCR, SouthWest Riverside County Chapter.
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Direct: 619-990-9901
Office: 951-304-1200
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Hi Got2bme,

That's a great question for a Certified Mortgage Planner like Steve Gronlund
at http://EquityPlanningForLife.com

Best regards,

Richard Greenwood MBA, GRI, ePro, Realtor

With a minimum 30 day late on any current mortgage you are not going to qualify for any mortgages. Lenders are extremely careful these days and your default shows inability to make payments no matter what the price range. Your best bet would be to attempt a loan modifiaction for your current home or worst case scenario a short sale. Then try to find a rental until your credit improves. Good luck to you.