We lost our home to foreclosure about two months ago due to my wife being out of work. I'm just receiving a promotion to live about three hours

Vjmercaldo
Home Buyer
Statesboro, GA

away in Georgia. Will we be able to buy another home there in 6 months?

Answers (2)
First to answer: Chuck
Barbara Van Duyn
Mortgage Broker
or Lender

Folsom, CA

Qualifying for financing 6 months after a foreclosure is not going to happen. This is good question that affects so many folks that I wrote an article about it. Go to my blog on Trulia and scroll down to the article: "Home Ownership After Short Sale or Foreclosure". The information will outline the waiting period for Conventional, FHA and VA loan programs. I hope you find it informative.

Good luck with your new job!

Barbara

Tue Oct 6 2009, 17:50
Chuck
Agent
Norcross, GA
FIRST ANSWER

Probably not in the conventional sense where a mortgage company would finance you. Talk with a lender or a Creedit Counseler about the process you will need to go through to get your financial house in order. Personally I would focus on a Lease-Purchase Scenario with "Owner Financing" in order to get in a home while getting your finances straightened out.....

Congrats on the promotion!!!

Chuck

Tue Oct 6 2009, 15:52

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