This is a complex question that only you can answer after reviewing your personal financial situation. I suggest you take a day of deep thought and make the decision for yourself. Good luck... more
Anyone that gives you advice without viewing the property should be disregarded. I would be happy to view the property and discuss renting/management of the property going forward.
You can find one/many in the "Find a Pro" directory here at Trulia.com - http://www.trulia.com/voices/directory/
I'd be happy to help you determine what financing options you'd have as I do loans in all 50 states and just recently helped someone buy a home in Casselberry, which is just north of Orlando.
You can read more about the approval process at http://www.trulia.com/blog/shanethemortgageman/2011/05/the_mortgage_pre-approval_process so you can get a good idea of what things would entail.... more
Work with a good realtor who can send you comparable properties in the area. If there is nothing in the neighborhood to support the price you are willing to pay, you will probably run into problems with the appraisal.... more
Realtors can't really answer that question for you. You can go to www.crimereportscom and put in the address and see what if any crimes have occurred around the area. You can also contact the local sheriff department for more information (also sex offender registry).... more
The Illinois Housing Department Authority has a grant program named, The Single-Family Owner-Occupied Rehabilitation (SFOOR) Program.
Information can be found at: http://www.ihda.org/homeowner/grantHomeowner.htm
If you would like help with this, please feel free to call or email me.
Also feel free to check out my website: www.consultwithcastillo.com
I am also a resident of Blue Island and consider myself a resource to all in our community.
Mortgage & Insurance Specialist
Let's discuss your loan scenario in more detail.Contact me at 800 315 8803. My name is Bart and I have been in the mortgage business since 1987. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario.
Until then, I look forward to hearing from you.
Bart Gabe - 800 315 8803
What have you done with your credit since the bankruptcy? The most common mistake people make is to avoid credit after a BK and not get re-established. Any mortgage lender will want to see that whatever caused your BK is behind you and that you have opened and used credit responsibly. If you have none, go to your bank and request a "secured" credit card. Use it and pay it off every month.
If you've already done this meet with a great local lender for the next step. You'll need some down payment, closing costs and reserves so start saving money.... more