2006-07-07 18:02:00 · 6 answers · asked by hednrs1 2 in Home & Garden ➔ Other - Home & Garden
Yes you can. By assuming an FHA or VA mortgage. All you do is pay the seller their equity and take over the payments There is no credit check and it will close quick. The mortgage stays in the sellers name and if you don't make the payments they can foreclose. Usually the assumption is a little high which lowers the risk for seller.
2006-07-08 01:58:14 · answer #1 · answered by Richard M 2 · 4⤊ 0⤋
Yes, but to get a loan will be hi interest and stiffer conditions. The sooner you get the house after a B+K the better because they know that option isn't available again for many years.
2006-07-08 01:16:46 · answer #2 · answered by StayBeZe 4 · 0⤊ 0⤋
Yes. You can. You need to wait for couple of years to rebuild your credit, save for a big down payment and be ready for high interest home loan.
2006-07-08 01:13:16 · answer #3 · answered by NB 1 · 0⤊ 0⤋
Yes you can. But most lenders frown on it. Because it will stay on you credit report for ten years.
2006-07-08 01:06:18 · answer #4 · answered by Steve B 2 · 0⤊ 0⤋
Yes, you can but it will be difficult to secure financing without some form of serious collateral.
2006-07-08 01:05:47 · answer #5 · answered by rhutson 4 · 0⤊ 0⤋
no, bad credit.
2006-07-08 01:04:53 · answer #6 · answered by smart_twin06 3 · 0⤊ 0⤋