Nextage Realty Professionals
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It is feasible, but not in the traditional way and not though the tradition lending institutions. Obviously cash is one way, lease purchase is another, or seller carry. Another way would be a hard money loan. All of these alternative ways require large down payments and will carry a bigger interest rate. The biggest reason that you will not be able to go the tradition way is because of the foreclosure, the disability or retirement will have nothing to do with it, but that foreclosure will.
Good question. This is difficult to answer without more details. There are hard money lenders that will lend with a sizeable down payment. Are co-signers available? Are you other debts clear? Cash reserves?
Many foreclosures these days, people walk from their homes even with cash reserves. So, would need to know more about your situation.
If I can answer any more questions I would be pleased to help you.
Jeff Masich, RealtorÂ®
Arizona Homes and Land
HomeSmart Real Estate