So you want to get another home after you foreclose. I understand we all want to have a home and why not own it. That’s the american dream. Well here are some ways you can do that. Of course it is not going to be easy and will take some time.

  1. Get a job and stay there. If you have one stay where you are. Lenders are looking for stability.
  2. Save money. oh yes easier said then done, belive you me. They want to see at least 6 months of reserves in case “something happens” they want you to be able to survive.
  3. Get that credit score back up. This is very hard since you might have had your cards taken away or closed on you. Also no one wants to give you a card because you are a risk. This takes time so be patient. You can do this. Baby steps.
  4. Seven years is the norm for lenders to have you back in the mortgage game. Fannie Mae has loosened up a bit and is  now giving people a chance after three years if they have a great story to tell and can show improvement in those three years. Rules change all the time so keep up to date and check frequently.

That’s it. Not rocket science by any means. Just make a plan and do it.

If you need someone to speak to about this I have a few professionals in my black book that are very good that I can recommend you to.

Contact me if you need me…

 

Get back in the game!

 

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