how to get mortgage after foreclosure?

Asked by Dvdhuffa, Avon, IN Sat Jul 4, 2009

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9
Grace Hanamo…, Agent, Cupertino, CA
Sat Jul 4, 2009
Hello Dvdhuffa:

Unfortunately, if you have experienced a foreclosure, you will be unable to get another mortgage for approximately 3-5 years. FHA, as I understand it, will provide you with a mortgage after 3 years, and Fannie Mae or Freddie Mac will not offer you a mortgage for about 5 years.

The best means to buying your next home is to talk with a qualified mortgage broker in your area to learn what you can do to repair your credit and prepare your records for a clean, hassle free purchase.

Good luck!!

Sincerely,
Grace Morioka, SRES, e-Pro
Area Pro Realty
1 vote
aftervince19…, , Greenville, NC
Sun May 11, 2014
Don't let a foreclosure stop you from buying a new home. See Comstock if you have a buyer in need. They have a flexible credit loan. This program assists homeowners who have recently been through a foreclosure, short sale or have recently emerged from bankruptcy.

http://www.thinkcomstock.com/buy-after-foreclosure
0 votes
aftervince19…, , Greenville, NC
Sun Apr 27, 2014
Get a flexible credit loan. This program assists homeowners who have recently been through a foreclosure, short sale or have recently emerged from bankruptcy.


http://www.thinkcomstock.com/buy-after-foreclosure
0 votes
Patti Kane, Home Buyer, Boulder, CO
Sun May 19, 2013
I had a short sale last year and my Realtor recommend http://www.cfs-mortgage.com/flex for a home loan. I am very happy to be able to purchase again.
CFS Mortgage assists homeowners who have recently been through a foreclosure, short sale or have recently emerged from bankruptcy.
0 votes
Terri Club, , Arizona
Sat Apr 27, 2013
I had a client who wanted to buy a home in Arizona, but he had a foreclosure. After researching the web I found a loan program at http://www.cfsflex.com, they allow a mortgage after a foreclosure. There is no waiting period. Good to see lending options coming back.
0 votes
Indy KW Real…, , Avon, IN
Wed Aug 5, 2009
I can refer you to a great mortgage team right in the heart of Avon. No pressure... no obligation...just great service! Let me know if you are interested. 317-354-7410 or tonywilson@callcarpenter.com
0 votes
Dave Woodson, , Portage, IN
Mon Jul 6, 2009
I did send you an email back this morning, if you did not get it please check your junk email.

Dave Woodson
The Indiana FHA Expert
0 votes
Dave Woodson, , Portage, IN
Sun Jul 5, 2009
you must wait at least 24 months, for a FHA home loan. My suggestion is to call a Mortgage Broker and they can help guide you through the waters of homeownership once again.

Dave Woodson
the Indiana FHA Expert
0 votes
Hannah Flieg…, Agent, Larkspur, CA
Sat Jul 4, 2009
Hi DVD,

If you want to get institutional financing then fannie and freddie who set the guidelines want you to wait 24 months after a foreclosure. However, if you sign up for credit repair you might be able to get the foreclosure removed and get a new mortgage immediately. i have helped several borrowers with this strategy in 6 months after their foreclosure. There is also seller financing as well as rent to owns which will help you step back into homeownership quickly.
Imagine if you can remove the foreclosure off your credit reports and start fresh?
0 votes
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