mattycasas, Other/Just Looking in San Diego, CA

I am currently renting and just found out that my landlord stopped paying his mortgage last September. I foreclosed on my home 3yrs ago.Can I buy now?

Asked by mattycasas, San Diego, CA Tue May 7, 2013

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Rashard Scott, Agent, San Diego, CA
Tue May 7, 2013
Yes, I would be more than happy to assist you with this process. If you could please send me your contact info to I will have my lender contact you to get you pre-approved and then we could start looking for homes!

Feel free to contact me anytime at 619-565-3604, thank you for your time and I look forward to hearing from you soon!


Rashard Scott
Keller Williams Realty

CA DRE#01703306
1 vote
David Rudd, Agent, San Diego, CA
Sat Jun 22, 2013
Hello Matty,

The short answer is, it depends. While many lending programs will allow approvals with foreclosures as recent as 3 years ago, they will be looking at your current credit history.

The best place to start is with a pre-approval. I always recommend a local mortgage expert over the big banks (for too many reasons to list).

If the foreclosure was the only issue that is on your credit report, you may very well be in the position to buy.

Best of luck!

David Rudd
Kindred Real Estate
0 votes
Hector Gaste…, Agent, Coronado, CA
Fri May 10, 2013
hi Matty,

Congratulations, you are ready to buy if you have a down payment of 3.5%, I would love to introduce you to my Mortgage Banker so we can get you back into Homeownership.

Hector R. Gastelum
Realty Executives Dillon
REALTOR #01382940
efax 619-270-2516
0 votes
Manju Gupta, Agent, Poway, CA
Wed May 8, 2013
If you are ready, call me and I could guide you.
Manju Gupta
0 votes
Chris Gorno, Agent, Carlsbad, CA
Wed May 8, 2013
Hello mattycasas!

It may be possible to buy again if all of the qualifications can be met. Let's determine how much time you have in the rental as well. You may be able to get "cash for keys" as a tenant as well. Feel free to reach out and pick my brain...I just need a little more info. Some Agents, but not all, can help you to track the foreclosure process and determine what stage the home is in, and help you to determine how much time you may have. Glad to help!

Chris Gorno
Windermere Real Estate
DRE# 01499885
0 votes
Daniel Lehman, , San Diego County, CA
Wed May 8, 2013
You can buy with FHA or VA. Conventional you are out for 7 years, but you do have options.

Daniel Lehman
WJ Bradley Mortgage Capital
0 votes
Manju Gupta, Agent, Poway, CA
Wed May 8, 2013
Normally, the foreclosure stays on the records for 3 years. It is doable to buy another home. I will be more than happy to discuss and help.

Manju Gupta
0 votes
Suzanne MacD…, Agent, Morristown, NJ
Wed May 8, 2013
Provided all the other factors the bank will take into consideration in approving you for a mortgage are in good standing the answer is yes. The waiting period after a foreclosure is 3 years, so if you have improved your credit score and have a good debt to income ratio, etc, you should be fine. Check with a good local mortgage lender to see what can be done.
0 votes
Royce Kemp, Agent, San Diego, CA
Tue May 7, 2013
You can buy with an FHA backed loan! Conventional, you have to wait 7 years.

I can get you in touch with a stellar mortgage broker if you don't already have one you prefer. Your next step is to get pre-approved for a loan, then you'll be set to being house-hunting. Feel free to contact me if you have any more questions.

Royce Kemp
Premiere Properties
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