2007-11-16 09:07:21 · 3 answers · asked by kisses 2 in Business & Finance ➔ Renting & Real Estate
Fannie mae, freddie mac it will be at least 4 years.
Ive seen loans approved for FHA after 1 year assuming it wasnt an FHA property you foreclosed against. Otherwise figure 3 years.
Now you cant have any lates since the foreclosure. I would say 1-2 years for FHA... 4-5 for conventional.
2007-11-16 09:18:58 · answer #1 · answered by financing_loans 6 · 0⤊ 0⤋
It depends on how many years it's been, how much cash down you have, what kind of credit you have since then.. Most likely the answer is going to be "no" since the Sub Prime mortgage industry (which is the category that you'll fall into) is doing so poorly due to the amount of people that have been defaulting on their loans (like you) over the last couple years. The banks have tightened up a lot on lending to "risky" buyers.
2007-11-16 09:14:35 · answer #2 · answered by kta kta 2 · 0⤊ 0⤋
If you have the cash to pay for it, sure. If you're asking about getting a mortgage, don't count on it, unless the foreclosure is several years back, and your credit report has found a way to repair itself.
2007-11-16 09:12:16 · answer #3 · answered by acermill 7 · 1⤊ 0⤋