time limits before you can apply for another loan to buy a property. In order to find out exactly how long
you must wait in your particular case, you must contact a lender or two, and get their input.
In the meantime, work on your credit score, save money for a substantial down payment, and
have some patience. You can always after your initial contact, contact your lender again and see
if you have a better chance in a few years.
Good Luck to you,
Most Sincerely yours,
Edith YourRealtor4Life and Chicago and North Shore Expert
Working always in the very BEST interest of her clients with @Properties
You have to 3 years from the foreclosure before you can receive financing for another home. Short sale is ultimately the solution to help reduce the future liability from a foreclosure.
Sohail A. Salahuddin | Group Founder
Innovative Property Consultants Group | Sales and Leasing
Jameson Sotheby’s International Realty
425 W. North Ave. | Chicago, IL 60610
O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030
"Locally Known, Globally Recognized"
Summary: foreclosure cannot buy for 7yrs
: Bankruptcy chp 7 cannot buy for 1-2yrs ( will cost you from $500-$1,500)
If you are not sure, Call me or email me 312-488-9424 I can verify if the subject property did go into foreclosure , if it did not I can do a short sale and you will not have to do the bankruptcy
If the sale is not final, you still have some options to consider, including redemption and a short sale.
While your credit has been damaged once the filing is done, you can still act to make the impact less than it may ultimately be.
if you want to talk, drop me a line or give me a call.
Best of Luck,
Century 21 Tenace