Mortgage in spite of foreclosure

szopica · Joined: 10 May 2008 Posts: 1 1.30 Dollars($)

Suffered a foreclosure in 2007. Earning good money now. Is there any way we can get a mortgage?

laphillips · Posted: Sun May 11, 2008 4:21 pm Post subject: Mortgage in spite of foreclosure

The key would be have you rebuilt your credit? What state do you live in?

Jeanette · Posted: Sun May 11, 2008 6:48 pm Post subject:

Szopica welcome to Mortgage Fit Forum,

You will have to build your credit back up before you can purchase another property after foreclosure, as Laphillips stated above. Work on gettting your credit score back up to 580 or more. Take out a credit card and make payments on time for consecutive 12 months. Do not max out your credit cards, that will go against your score. Make sure you do not have any collection items or judgements. They must be paid in full.

Thanks,
Jeanette Smith
Union Mortgage Group
Virginia Beach, VA

Niicss · Joined: 03 Oct 2005 Posts: 885 130.68 Dollars($)

Welcome szopica,

How bad is your credit? Can you let us know the exact score? Please give a bit more information so that we can give you any good suggestions.

You can use the Credit Repair Tool so that you can analyze your situation and repair your credit.

Let me know if you have any further queries.

cliff · Posted: Mon May 12, 2008 6:38 am Post subject:

Hi Szopica,

Yes you can but you will need to enter into some kind of credit repair program or even better meet with a "credit strategist." I would start like Niics recommened by using the "Credit Repair Tool."

If you want to own a home immidiatley there are many homes in the market where the owner of a home will owner finance you.

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