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READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO TAKE IT TO THE NEXT LEVEL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
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Buying a Home after a Foreclosure
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO TAKE IT TO THE NEXT LEVEL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Buying a Home after a Foreclosure
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Buying a Home after a Foreclosure

October 12 2010 (Chris Moore)
foreclosure - home for sale
When the housing market finally quiets down and the dust has settled, probably one of the most asked questions is going to be, “How long do I have to wait to buy a home if I had a foreclosure?” With millions of homes in foreclosure and possibly a million or more yet to come, the effects of the housing downturn and the subsequent economic downturn will have a heavy toll on families across America for years to come.

So what is the answer to the question? The answer is, no matter what anyone tells you, there is really no definitive answer because what is true today, may not be true tomorrow. With so many affected families for years to come, if lenders want to make loans, they’re going to have ease their guidelines, or the government may have to change loan requirements through Fannie Mae (which is why we’re in the mess we’re in now anyway) or risk prolonging the economic recovery because of a lack of credit worthy buyers.

But if you were to ask that question today, since most loans are sold to Fannie Mae and they buy most of the mortgage loans on the secondary market and probably held the mortgage to your previous loan, we can look at their guidelines for answers.

Waiting Periods to Buy After a Foreclosure:

Buying After a Foreclosure:

The waiting period is generally 5 years, up to 7 years.

Buying After a Foreclosure With Extenuating Circumstances:

The waiting period is generally 3 years, up to 7 years. Extenuating circumstances are things that happen beyond your control, which dramatically affect your ability to continue making payments on your mortgage. Examples of that would be death (not yours, of course), illness, job transfer, or an accident resulting in serious injury. Sorry to say that being unable to afford an increase in payment due to an interest rate increase on your adjustable-rate mortgage is not considered a circumstance beyond your control.

Buying After a Deed-in-Lieu of Foreclosure:

The waiting period is generally 4 years, up to 7 years. A Deed-in-lieu of Foreclosure is when sellers who are behind in payments to the lender will sometimes negotiate with a lender to accept a Deed-in-Lieu of Foreclosure, which means the seller has deeded the property to the lender to avoid foreclosure. But the deed may still show up on a seller’s credit report.

Buying After a Deed-in-Lieu of Foreclosure With Extenuating Circumstances:

The waiting period is generally 2 years, up to 7 years

Buying After a Short Sale:

The waiting period is 2 years. However, if a seller does not have a 60-day late pay, that seller may immediately buy another home. It’s a reason to stay current on your payments while the home is on the market as a short sale.

All waiting periods start from the time that your foreclosure was recorded.

In addition to the waiting period, some loans require 10% down and a minimum FICO score. The home you purchase must be your principal place of residence, not a rental nor a vacation home. Other factors include whether or not there was a bankruptcy and if your other payments (credit cards, auto loans, personal loans, etc.) have remained current and on time and for how long.

Fannie Mae constantly issues new guidelines so if you’re thinking about purchasing another home after a foreclosure, check with a lender to see what the current guidelines are.

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

October 12 2010 (Chris Moore)
foreclosure - home for sale
When the housing market finally quiets down and the dust has settled, probably one of the most asked questions is going to be, “How long do I have to wait to buy a home if I had a foreclosure?” With millions of homes in foreclosure and possibly a million or more yet to come, the effects of the housing downturn and the subsequent economic downturn will have a heavy toll on families across America for years to come.

So what is the answer to the question? The answer is, no matter what anyone tells you, there is really no definitive answer because what is true today, may not be true tomorrow. With so many affected families for years to come, if lenders want to make loans, they’re going to have ease their guidelines, or the government may have to change loan requirements through Fannie Mae (which is why we’re in the mess we’re in now anyway) or risk prolonging the economic recovery because of a lack of credit worthy buyers.

But if you were to ask that question today, since most loans are sold to Fannie Mae and they buy most of the mortgage loans on the secondary market and probably held the mortgage to your previous loan, we can look at their guidelines for answers.

Waiting Periods to Buy After a Foreclosure:

Buying After a Foreclosure:

The waiting period is generally 5 years, up to 7 years.

Buying After a Foreclosure With Extenuating Circumstances:

The waiting period is generally 3 years, up to 7 years. Extenuating circumstances are things that happen beyond your control, which dramatically affect your ability to continue making payments on your mortgage. Examples of that would be death (not yours, of course), illness, job transfer, or an accident resulting in serious injury. Sorry to say that being unable to afford an increase in payment due to an interest rate increase on your adjustable-rate mortgage is not considered a circumstance beyond your control.

Buying After a Deed-in-Lieu of Foreclosure:

The waiting period is generally 4 years, up to 7 years. A Deed-in-lieu of Foreclosure is when sellers who are behind in payments to the lender will sometimes negotiate with a lender to accept a Deed-in-Lieu of Foreclosure, which means the seller has deeded the property to the lender to avoid foreclosure. But the deed may still show up on a seller’s credit report.

Buying After a Deed-in-Lieu of Foreclosure With Extenuating Circumstances:

The waiting period is generally 2 years, up to 7 years

Buying After a Short Sale:

The waiting period is 2 years. However, if a seller does not have a 60-day late pay, that seller may immediately buy another home. It’s a reason to stay current on your payments while the home is on the market as a short sale.

All waiting periods start from the time that your foreclosure was recorded.

In addition to the waiting period, some loans require 10% down and a minimum FICO score. The home you purchase must be your principal place of residence, not a rental nor a vacation home. Other factors include whether or not there was a bankruptcy and if your other payments (credit cards, auto loans, personal loans, etc.) have remained current and on time and for how long.

Fannie Mae constantly issues new guidelines so if you’re thinking about purchasing another home after a foreclosure, check with a lender to see what the current guidelines are.

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

October 12 2010 (Chris Moore)
foreclosure - home for sale
When the housing market finally quiets down and the dust has settled, probably one of the most asked questions is going to be, “How long do I have to wait to buy a home if I had a foreclosure?” With millions of homes in foreclosure and possibly a million or more yet to come, the effects of the housing downturn and the subsequent economic downturn will have a heavy toll on families across America for years to come.

So what is the answer to the question? The answer is, no matter what anyone tells you, there is really no definitive answer because what is true today, may not be true tomorrow. With so many affected families for years to come, if lenders want to make loans, they’re going to have ease their guidelines, or the government may have to change loan requirements through Fannie Mae (which is why we’re in the mess we’re in now anyway) or risk prolonging the economic recovery because of a lack of credit worthy buyers.

But if you were to ask that question today, since most loans are sold to Fannie Mae and they buy most of the mortgage loans on the secondary market and probably held the mortgage to your previous loan, we can look at their guidelines for answers.

Waiting Periods to Buy After a Foreclosure:

Buying After a Foreclosure:

The waiting period is generally 5 years, up to 7 years.

Buying After a Foreclosure With Extenuating Circumstances:

The waiting period is generally 3 years, up to 7 years. Extenuating circumstances are things that happen beyond your control, which dramatically affect your ability to continue making payments on your mortgage. Examples of that would be death (not yours, of course), illness, job transfer, or an accident resulting in serious injury. Sorry to say that being unable to afford an increase in payment due to an interest rate increase on your adjustable-rate mortgage is not considered a circumstance beyond your control.

Buying After a Deed-in-Lieu of Foreclosure:

The waiting period is generally 4 years, up to 7 years. A Deed-in-lieu of Foreclosure is when sellers who are behind in payments to the lender will sometimes negotiate with a lender to accept a Deed-in-Lieu of Foreclosure, which means the seller has deeded the property to the lender to avoid foreclosure. But the deed may still show up on a seller’s credit report.

Buying After a Deed-in-Lieu of Foreclosure With Extenuating Circumstances:

The waiting period is generally 2 years, up to 7 years

Buying After a Short Sale:

The waiting period is 2 years. However, if a seller does not have a 60-day late pay, that seller may immediately buy another home. It’s a reason to stay current on your payments while the home is on the market as a short sale.

All waiting periods start from the time that your foreclosure was recorded.

In addition to the waiting period, some loans require 10% down and a minimum FICO score. The home you purchase must be your principal place of residence, not a rental nor a vacation home. Other factors include whether or not there was a bankruptcy and if your other payments (credit cards, auto loans, personal loans, etc.) have remained current and on time and for how long.

Fannie Mae constantly issues new guidelines so if you’re thinking about purchasing another home after a foreclosure, check with a lender to see what the current guidelines are.

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS