Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

Compare Refinance Mortgage Quotes

My house was forclosed on and i wish to buy it back.
Obviously my credit is bad.

Is there any chance?

chrisburns's picture
chrisburns | Joined: November 13, 2007 07:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

almost every lender has at least a 2-3 year period after you have a foreclosure before they will finance you again.

The only other option would be a hard money lender but being that you just had a foreclosure I'm not sure if that would be a good option for you. Their rates are very high and your payment might be even higher than the one you just got foreclosed on.

I'm sorry :(

Like | Dislike | Share | Posted: Tue, 09/16/2008 - 17:44 | Post subject:

lisa.scherzer's picture
lisa.scherzer | Joined: January 4, 2008 08:48 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

The only option that I see at this time is to have a family member or someone you trust 110% purchase the home for you in their name and their credit. You can then do a land contract or lease purchase with them to [url=http://www.mortgagefit.com/refinance.html]refinance[/url] or purchase the home back from them at a later date. If you are going to ask someone to risk their credit, etc. I would give them a premuim for doing so. Such as a higher price when you buy from them, or a higher monthly payment, etc. Hope this helps sort out the options for you at this time.

Like | Dislike | Share | Posted: Tue, 09/16/2008 - 23:54 | Post subject:

Page loaded in 0.130 seconds.