If you lost your home to foreclosure, would you be able to purchase another home? How long a wait time?
Question:
Answer:
to be sure, check bankrupcy laws for your area, I know around where I am its 7 years
you can purchase a home right away with the right terms. a foreclosure will stay on your credit report but you might be able to assume a mortgage from someone else, have a seller hold a note for you, or just pay cash for the property. its not going to be easy but it can be done.
Unless you have cash, don't plan on it for at least 3-5 years. Having a home foreclosure on your credit report is like shooting yourself in the leg. It will take you out of commission for a while. If you are in foreclosure and you need to sell your home quick; we may be able to help you.
Please feel free to contact me with questions.
Thomas Rushing
Executive Manager
Golden Lily Properties
(866) 800-1002
www.GoldenLily.net
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