Home Buying in Cincinnati>Question Details

Brad Hatfield, Home Buyer in

anyway possible to buy a home after foreclosure? we make over 80k and have very little debt.

Asked by Brad Hatfield, Wed Sep 5, 2012

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8
I had a client who wanted to buy a home in Arizona, but he had a foreclosure. After researching the web I found a loan program at http://www.cfsflex.com, they allow a mortgage after a foreclosure. There is no waiting period. Good to see lending options coming back.
0 votes Thank Flag Link Sun May 5, 2013
Lease Option and Land Contract are your possible options.

Lease option is "rent-to-own".

Land Contract is "seller financing", having the seller holding the mortgage instead of the bank.

Both options you deal with the investor, almost everything is negotiable, including terms, interest, down payments... Both options help you improve you credit score over time.

If you know what you want, such the size of the house, # of Bedroom and bathrooms, location or region, price range or monthly payments (including other expenses such as insurance, utilities, upkeep....).

I may be able to help, my assoicates in my Investor group may be able to find the home you want.

Contract me if interested.

Danny W. Der
0 votes Thank Flag Link Sat Oct 13, 2012
Hi Brad

It depends on time passed on the foreclosure, the reason for it, your credit now and if you have paid off all other bills other than the mortgage. Banks are looking for whether you foreclosed, wiped out your credit and also decided not to pay other Cards and Loans.

There are always hard money lenders, but cheap money at 3.5% is unlikely reserved for
folks with 720 and above FICO scores is unlikely for a long time.

Good luck.
Perry
0 votes Thank Flag Link Wed Sep 5, 2012
Brad I would be happy to evaluate your situation and put you in touch with a the correct people!

Lisa McCarthy
Coldwell Banker/ West Shell
513-256-2629
lmccarth@fuse.net
0 votes Thank Flag Link Wed Sep 5, 2012
Brad I would be happy to evaluate your situation and put you in touch with a the correct people!

Lisa McCarthy
Coldwell Banker/ West Shell
513-256-2629
lmccarth@fuse.net
0 votes Thank Flag Link Wed Sep 5, 2012
contact a loan officier for your qualitications
0 votes Thank Flag Link Wed Sep 5, 2012
Brad it all depends on how long since the forclosure was final. The minimum time for some loans is 2 years after the action is over. The action is over when the deed is recorded from sheriff sale. If you want you can contact me and I can put you in touch with a good lender than can evaluate your situation.
0 votes Thank Flag Link Wed Sep 5, 2012
Brad, good question. How long has it been since your foreclosure? Give me a a call, I might be able to help you with some options.

Thanks,

Chris Gerke
Realtor
OwnerLand Realty
513-673-7074 Direct
Chris@chrisgerke.com
http://www.chrisgerke.com
0 votes Thank Flag Link Wed Sep 5, 2012
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