It can be a long process to process all the short sales on the market. The problem with that is timing. If you can wait, you can usually find a deal. If you can't I would not suggest a short sale.
It depends on your situation.... more
It depends on your income qualifications as well. There are no 1st time homebuyer programs that I am currently aware of, state or federal, so that really does not matter at the current time.
3 years BK discharge should be ok - but you may need 20% down.... more
I think it depends on the situation. It varies with the circumstances involved in your individual situation. You should talk to a good attorney. If you would like the name and number of a few I can help. I work with several good attorneys in the area. Send me an email at firstname.lastname@example.org and I will get their info out to you.... more
Schaumburg has first homes starting at about 30K for a studio condo.
Some first time buyers have waited and saved a lot longer, choosing a 300k+.
Average it all together and I think about $137,500.... more
Definitely contact a reputable lender that is experienced in credit repair. Do this prior to paying off any debt or creating any new debt. The tri score pull is tricky and you need to know how to gain points and how you lose them. Best of luck!... more
Visit a neighborhood several times to get a sense of belonging. Check out area statistics; real estate professionals are prohibited from steering, enticing a buyer to purchase, or not, in specific neighborhoods; so, you should check out demographics on your own to assure your comfort level can be reached.... more