Depending on when you foreclosure was, you will not have the option of working with a bank for a while. When you are able, you might want to work with a local bank or credit union as opposed to the big megabanks. You will need 2-3 years from the foreclosure date to get a bank loan depending on any extenuating curcumstances. There are some private money lenders such as Pine Financial, and what we call hard money lenders. I would be careful with these alternative solutions. Especially with the lease-option or rent to own transactions. Get a lawyer to write the contract with as many outs and provisions to keep you from getting in trouble as possible. Same with owner-carry.
contracts which are tough to come by in this market.
Robert McGuire ASR
Your Castle Real Estate
1776 S. Jackson St. #412
Denver CO 80210
Direct â€“ 303-669-1246... more