Can I purchase a new home while I'm in a redemption period?

Asked by Escape777, 49319 Sun Aug 26, 2012

Our home is in a redemption period,but I included it in my BK7 4 years ago. Can I purchase a different home during this period? My credit is good and I have $$$$ & Good Job.. What are my options? This home has not been recorded on public record since 2000. So BOA/countrywide never recorded anything.
Again, what are my options?

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Brek Schutten, Agent, Grand Rapids, MI
Mon Aug 27, 2012
If I were in your situation, I would speak directly to a lender to figure out exactly what your options are. It is hard to say whether or not you would be able to get a loan without knowing more details. If you would like a few lender referrals that work well with people in your situation, let me know and I'd be happy to provide you with their contact information.
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Yes... I will be contacting you soon. I am fairly close to your neighborhood.
Thank you.
Flag Mon Aug 27, 2012
Beau Otis, Agent, Grand Rapids, MI
Mon Jun 24, 2013
You will need to talk with a lender unless you're in a situation where you purchase the home outright with cash. I have a couple of great lenders who would be happy to provide a free consultation to see if it's a feasible option. If you're interested in their contact information or if I can help in any other way, don't hesitate to let me know.


Beau Otis

Keller Williams Realty
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Community Ch…, Agent, Birmingham, MI
Mon Aug 27, 2012
Yes you can purchase a home have to wait 2 yrs after a bankruptcy and three yrs after a foreclosure....criteria varys from bank to bank . Go to a credit union or a mortgage broker if your choice of bank gives you a hard time. I usually send my clients to Peoples Trust Bank that have had similar problems.
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