Posted on: 22nd Jun, 2011 12:44 pm
I am facing foreclosure due to a divorce. I have a great job of 22 years and would like to purchase another home. Can I do so if I am facing Foreclosure now?
If you are on the loan and title, then the new lender will see the foreclosure on your record. You would have to wait the minimum of 3 years after the foreclosure date to purchase again.
Welcome nmwahoo,
I agree with Chris. If the foreclosure is reported in your credit record, then you won't be able to get a mortgage before 3-4 years. You need wait for that time period and then apply for a mortgage.
I agree with Chris. If the foreclosure is reported in your credit record, then you won't be able to get a mortgage before 3-4 years. You need wait for that time period and then apply for a mortgage.
