My credit is not good i was foreclosed a house 5 years ago, i was wondering if i can still qualify to buy a house.

Asked by Mayra, Clarksville, IN Wed Feb 15, 2012

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Susan Vanderburgh’s answer
Susan Vander…, Agent, Lake Elsinore, CA
Mon Jul 9, 2012
Answering these questions will give you the answer.

Have you re-established credit since the foreclosure?

Do you have a steady job?

Do you have a down payment?

What debts do you have?

Can you pay for your debts and the mortgage?
0 votes
, ,
Wed Feb 15, 2012
Hi Mayra,

I'm a local lender around here and wrote a blog post on my site that specifically addresses this topic. Go to the web reference link below to read it.

I specialize in helping people buy again after foreclosure, bankruptcy, or short selling.

You may qualify for our $0 down payment loan in the Menifee, French Valley, Winchester, Wildomar area. Or, an FHA 3.5% down payment loan in any area around here.
1 vote
Oroville Ren…, Other Pro, oroville, CA
Mon Feb 20, 2012
There is always the owner financed or lease option possibility
0 votes
Annette Levi…, , New York, NY
Thu Feb 16, 2012
Go to your local non profit housing group for credit counseling. The counselor will go over your credit report with you. They will tell you what you are doing wrong and what you should be doing. Listen to them and when your score is 640+ you can think of buying.
0 votes
Robert Gurss…, Agent, Chino Hills, CA
Thu Feb 16, 2012
Yes it is possible. Using a direct lender may be your best option. I have one available and local. If you need any assistance please let me know.
0 votes
Socorro Lopo, , California
Wed Feb 15, 2012
Yes you can still qualify, I work with a direct lender and familiar around Menifee please let me know how I can help you :)
0 votes
Charlene Wes…, Agent, Valrico, FL
Wed Feb 15, 2012
Hi Mayra.

It is a great start that you are reaching out for advice and assistance. I would like to suggest to you however, that it is best for you to speak directly with a qualified mortgage professional. Be leary of Brokers/agents/lenders who say "YES" without reviewing your personal circumstances, credit and debt ratios. What they aren't saying is that they may be looking at alternative lending options for you that could cost you quite a bit more then the prevailing rate.

A good place to start is with you own bank/financial institution. Explain your circulstances and let them research the options that are available to you, at worst you will find out exactly how long it will take you to get on track to home buying again.

I wish you all the best Mayra and hope you are able to purchase a home in the near future.

Charlene Weston
Realtor/Team Leader
Weston Group
Web Reference:
0 votes
Juan Rodrigu…, Agent, Riverside, CA
Wed Feb 15, 2012
YES, you qualify , call me and I can give you all the details:

Direct Toll Free: 800-916-0366
0 votes
Darren Pruitt, Agent, Menifee, CA
Wed Feb 15, 2012
It may be possible! Depending on the date your foreclosure recorded, your current credit score, stable income and have no current delequencies. I can put you in touch with a lender to see if and what you may qualify for. If you do not qualify they will be able to guide you in the direction you need to go to better your credit. If this sounds like something you may want to move forward on please feel free to contact me.

0 votes
Diane Caddy, Agent, Irvine, CA
Wed Feb 15, 2012
It is very possible that you might. Give me a call at 951-956-7059 or email me at and we go over some details.

"Your local Realtor"
0 votes
Jory Blake, Agent, Corona, CA
Wed Feb 15, 2012
Do you know the exact date the foreclosure was recorded? If not , email me the address and I'll find out for you.
I have a couple lenders that may be able to qualify you. Is your FICO at 620 or better? Do you have steady income ?

Thank you,

Jory Blake
Keller Williams Realty of Riverside
0 votes
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