Asked by Tee, Detroit, MI • Fri Oct 22, 2010
My husband & I filed chapter 7 bankruptcy back in Dec 08' and we included our home in the bankruptcy, we are still waiting on the foreclosure or sheriff sale to be processed on the home we are in however we know eventually we have to leave the property. The bankruptcy has been discharged for 1.5 yrs now but I know its going to be a few years of credit repair before we can get a conventional mortgage on another home. We arent looking to purchase anything too expensive mainly we are looking at foreclosures, short sales or for sale by owners around $40,000. And since we dont have $40,000 laying around anywhere we were wondering if we did a large down payment maybe someone would be willing to do a land contract for the remainder but we dont know where to go to find sellers that are willing to do a land contract or if this is even a realistic option for us. Please help!
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