Home Insurance in 66109>Question Details

Courious, Other/Just Looking in 66109

My home was foreclosed in 2006, will I be able to get another loan to purchase another home.

Asked by Courious, 66109 Fri Feb 10, 2012

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Dan Tabit’s answer
Curious,
Paul is correct regarding the timeline, you have waited long enough, the remaining question is have you done the other things you need to do in order to qualify for financing. Re-establishing credit after a difficult time is critical. Using, but not abusing credit will go a long way. You will need to have 2-3 good re-established trade lines. Any late payments are really difficult to overcome after an event like foreclosure or bankruptcy.
Meet with a local lender and see what they think may be possible. Best of luck.
0 votes Thank Flag Link Fri Feb 10, 2012
You should be eligible for an FHA loan after 3 years and a conventional after 2yrs. Based on that I think you'd probably be eligible now. Contact for a more detailed answer and to get set up on an automated home match system if you'd like.
info@paulsellskc.com
913-307-4051
0 votes Thank Flag Link Fri Feb 10, 2012
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