How do you live after foreclosure?
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Answer:
Have you talked with your bank? Many times they will accommodate you by letting payments slip for a while or reducing the payment amount for a period. It may be too late for that however. Can you refinance? A realtor might be able to arrange a quick sale. Don't choose a realtor with little experience or contacts. Interview them as you would a job applicant. Explain your situation, they might have good suggestions. At this point you might consider renting a house before the foreclosure appears on your credit report. Considering the difficulties you are in it may be best not to buy a house right now even if you could. Housing prices have exceeded rental rates in many areas and you need to create a financial buffer. In addition the housing market is on the decline as rates continue to rise. If you buy now you may be buying a house that loses value even while inflation eats at it further. Good luck!
Live in a box
If you have equity in your home, find an investor that will take your home and rent it back to you with an option to re-purchase the home from him. He will need to make 30%, but you have a place to live and a chance to recoup.
Have you tryed your state government for assistance. Done a reafirm on your note, with the lender. The American Red Cross has been known to help ppl with a house payment, local churches also, salvation army.
Here is a link, try this also, you may have to wait, not sure, since you are in a Fc. But the USDA has programs on a sliding scale...
http://eligibility.sc.egov.usda.gov/elig...
Work with a Real Estate Investor.You do have options..Also try www.211.org in your state there are programs available to help you like Eviction Prevention through Non-Profits,Humanity Habitat (they make home for people at lower incomes)http://www.habitat.org/cr/day_of_prayer.
Good Luck
Real Estate Investor
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