Posted on: 20th Aug, 2010 01:56 pm
Hello
I had a forclosure 3 years ago and the second loan was a recourse loan will i ever be able to purchase again.. my credit score is 660 please advise
I had a forclosure 3 years ago and the second loan was a recourse loan will i ever be able to purchase again.. my credit score is 660 please advise
Welcome Guest,
Though your property went through a foreclosure, you would be able to get a mortgage in the near future. After a foreclosure, you need to wait for 3-4 years in order to qualify for a loan. As 3 years have already passed, you should start contacting the local lenders and apply for a mortgage. With the credit score that you've mentioned, you will be able to qualify for a FHA loan.
Though your property went through a foreclosure, you would be able to get a mortgage in the near future. After a foreclosure, you need to wait for 3-4 years in order to qualify for a loan. As 3 years have already passed, you should start contacting the local lenders and apply for a mortgage. With the credit score that you've mentioned, you will be able to qualify for a FHA loan.