Posted on: 17th Sep, 2009 09:51 pm
lisen : my grilfriend and I been working in a same lob for 6 years.. I went thru foreclosure 2 years ago and she has condo ... Can we geta approved for loan?
Hi Guest,
You need to wait for at least 2 years after a foreclosure to get approved for an FHA loan. For conventional loans, you need to wait 3-4 years. You also need to improve your credit in the meanwhile. What is your current credit score? Does the foreclosure show on your girlfriend's credit report? If it does not, she can apply for the new loan.
You need to wait for at least 2 years after a foreclosure to get approved for an FHA loan. For conventional loans, you need to wait 3-4 years. You also need to improve your credit in the meanwhile. What is your current credit score? Does the foreclosure show on your girlfriend's credit report? If it does not, she can apply for the new loan.
Hi Guest,
Welcome to our forum.
In my opinion, foreclosure always damages to our credit history & fico score. If you wish to apply for FHA after foreclosure so you have to wait for 2 years from foreclosure to apply for FHA as well as you must have to rebuild your credit score.
Thanks & Regards.
gunz.ijjistaff.
Welcome to our forum.
In my opinion, foreclosure always damages to our credit history & fico score. If you wish to apply for FHA after foreclosure so you have to wait for 2 years from foreclosure to apply for FHA as well as you must have to rebuild your credit score.
Thanks & Regards.
gunz.ijjistaff.
