Foreclosure in White Lake>Question Details

Diana Brown, Other/Just Looking in White Lake, MI

are there any gov programs to help a family by a house. we have a foreclosure of 3 years ago and unpaid

Asked by Diana Brown, White Lake, MI Thu Jan 31, 2008

taxes (currently in a payment program) from a business we used to own from 2002. any advise, anyone!! we have been renting for 3 years at 1200 a month. i just don't get it.

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Yes there are programs but lets get realistic. There is no lender that will touch you with unpaid taxes even if you are on a payment program. They will take first lien possition.You were foreclosed on 3 years ago. The soonest most lenders will look at someone with a forclosure is 3 years after the forclosure is closed. That means when the lender requires the property.
You still need to take some steps-- PAY OFF YOUR TAXES SO THE GOVERNMENT HAS MONEY TO HELP PEOPLE THAT WANT TO BUY A HOME!
Pay your bills on time and try to pay off your back taxes early. Pay your bills on time and when you get your debt to the government paid you may be able to buy a home the next month all you would need would be your release papers.
0 votes Thank Flag Link Fri Feb 1, 2008
Diana: If your income is such that you are able to make $1200 rent payments, chances are your income is too high for any government subsidy programs. Also, if the foreclosure was on your business, was it set up under a corporation or partnership? If it was set up under one of these it may not have affected your personal credit. However, if it was set up under your personal taxpayer ID you may wish to get a copy of your credit report and go over it with an accountant. The first thing to do is find out where your credit stands and how to correct any discrepencies before seeking a mortgage. If you would like more information or assistance, let me know.
Web Reference: http://www.yournextexit.com
0 votes Thank Flag Link Fri Feb 1, 2008
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