Posted on: 04th Jul, 2010 08:27 am
My father and I purchased a home together in 2005. We split everything 50/50. Unfortunately he had a fatal heart attack 1 year later and I couldn't pay everything on my own. I tried a short sale but had the wrong realtor. So it went in foreclosure august of 08. My credit has been good for several years in fact 7 since my bk in 03. My score is around 660-675. I want to purchase a home while they are still low priced. I have been renting a home for 2 years at $1000.00 a month. My lease ends in October 2010. Is there a lender that will work with me?
Sorry to hear about your father. If you can document everything regarding his medical situation, have had perfect payment history on everything since the foreclosure action, then you should be able to qualify for new mortgage financing (FHA or VA) at the 2 year anniversary of the foreclosure completion date. The foreclosure completion date would be marked by a trustee deed when the mortgage lender legally took back possession of the home.