The time you must wait before buying a home after foreclosure depends on the specifics of your situation. If you defaulted on your first home loan due to economic hardship and your attempts to remedy the situation are documented, then a waiting period along with meeting down payment and credit repair criteria may be sufficient to borrow again. However, those who “walked away” from their first mortgage face a tougher road. Contact our office to discuss the details of your foreclosure and explain the state of your current economic circumstances.
Posted in: Home Buying FAQ