Home Selling in Lompoc>Question Details

Dana Guevara, Other/Just Looking in Lompoc, CA

If a person has had a forclosure, can they buy another home if they purchase is in full?

Asked by Dana Guevara, Lompoc, CA Tue Feb 17, 2009

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Do you mean, can they buy a home paying all cash, with no mortgage, shortly after a foreclosure? Sure they can. The restrictions for bankruptcies and foreclosures are for new mortgages. If you can finance your purchase without a mortgage, then you don't have to worry about mortgage credit requirements.
1 vote Thank Flag Link Tue Feb 17, 2009
The foreclosure affects your credit worthyness. It make it difficult to obtain a loan. You can anything you want with cash.
0 votes Thank Flag Link Wed Feb 18, 2009
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