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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=]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:

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