Buying A Home After A Foreclosure

Buying A Home After A Foreclosure

Some people believe they will never be able to buy a home if they lost their home due to a foreclosure.  The truth is, it will take some time and some work, but you can buy a home again.  The Federal Housing Administration (FHA) is more forgiving in regards to credit issues than conventional loans.  If you lost a home due to a foreclosure, you can qualify again in three years to purchase a new home.  Have evidence that you lost your home due to extreme circumstances such as job loss, divorce, death, fraud or illness. Work on building up your credit score and start saving for a down payment.

David McKay Headshot
Phone: 915-740-3632
Dated: October 19th 2015
Views: 1,502
About David: I have been with Exit West Realty since 2010 and prior to that have had 14 years of sales experience...

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