What steps should one take after a foreclosure and bankruptcy? Is finding another home hard?
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There are many lendors who will give you a home loan one day out of bankruptcy, look in your yellow pages, they usually state this in their ad. As long as you have a good job, and been there a long time, they will give you a loan. And dont sign a lease for a year, do a temporary thing, so you can get a house asap!
it may take some time and yes it might even be hard. you have to reestablish your credit with banks and loan companies. the best thing you might want to do is start by renting a property with an option to buy at a later time. you can also try speaking to a loan officer at your local bank.
You should start re-building your credit by trying to get an Orcharge Bank Credit Card, Aspire Credit Card or First National Bank of Marin credit card. They will be for small limits but it will help in the re-building of your credit. Once you can build up your credit there are companies that give mortgagees to those with so so credit.
Doing anything that requires a credit check is almost impossible after bankruptcy! I filed almost 7 yrs. ago and can hardly get a thing. Good luck!
Why have you not declared bankruptcy? Your home should be protected, see a bankruptcy lawyer asap! It will be worth the money.
Joey, My wife and I went through the same situation 6 yrs ago. We were fortunate enough to have a co-signer who helped us purchase another home. I understand exactly how you feel because we felt the same way. We made a promise to ourselves to never let it happen again and now we run a great business from our home that assures us that it will never happen. Don't give up and you will find an answer to getting another home. Set yourself up with a home business that will pay you more in 1-2 yrs than your employer will ever pay you and you'll be like us and never worry about filing bankruptsy again.
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