Home Buying in Sacramento>Question Details

ZZZjohncfole…, Home Buyer in Citrus Heights, CA

I had a foreclosure due to HOPE NOW not filing my paperwork in time and had a Bankruptcy recomended by them as well. It was almost 2 years ago.

Asked by ZZZjohncfoleyZZZ, Citrus Heights, CA Thu Jan 3, 2013

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Answers

6
Is your question asking when will you qualify for a loan?

Brian Gorban
0 votes Thank Flag Link Tue Jan 8, 2013
Guideline for a new FHA loan after a Foreclosure are 3 years and 2 years after a Bankruptcy. Make sure there is no Derogatory credit after the foreclosure or BK or FHA will turn you down.
0 votes Thank Flag Link Fri Jan 4, 2013
I'd suggest you speak with a lender to determine when you might qualify for, or whatever you are trying to do with the current events that affected your credit. I would assume you will have to wait at least 3 years for traditional, government backed loans but ask around. You may find someone that will provide you a loan now, if that's your objective.
0 votes Thank Flag Link Thu Jan 3, 2013
While you can often qualify for a loan after 2 years after filing bankruptcy, you have to wait 3 years after a foreclosure. So, if you filed BK 2 years after your foreclosure, you may have another 2 years to wait. If that is your question. I'm not sure what your question is.

Elizabeth Weintraub
0 votes Thank Flag Link Thu Jan 3, 2013
ZZZ... what is the question...
0 votes Thank Flag Link Thu Jan 3, 2013
Is your question whether you can buy a home now? Did you follow HOPE NOW's recommendation and file for bankruptcy?
0 votes Thank Flag Link Thu Jan 3, 2013
Ute Ferdig -…, Real Estate Pro in Newcastle, CA
MVP'08
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