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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Depends on your credit reconstruction activity.. Posted by Ward-CA- on February 03, 2002 at 10:07 PM In Reply to: How long before we can buy another home??? posted by Confused on February 03, 2002 at 5:31 PM : We filed bankruptcy on a FHA mortgage in 1997. Due to the mortgage company being incompetent idiots, the house did not sell at Sheriff's auction until July of 2001. How long before we would be able to obtain another mortgage? It seems like this should be fixed by now but continues to haunt us....TIA =•=•=•=•=•=•=•=•=•=•=•= Most credit counselors will tell you that the scar of a foreclosure will affect your credit standing as far as buying another home for at least 3 years, but more likely for 5 years or more thereafter. So burnish your credit as much as you can these next few years so you’ll more easily qualify to buy another home when the time comes. Good luck. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : We filed bankruptcy on a FHA mortgage in 1997. Due to the mortgage company being incompetent idiots, the house did not sell at Sheriff's auction until July of 2001. How long before we would be able to obtain another mortgage? It seems like this should be fixed by now but continues to haunt us....TIA : =•=•=•=•=•=•=•=•=•=•=•= : Most credit counselors will tell you that the scar of a foreclosure will affect your credit standing as far as buying another home for at least 3 years, but more likely for 5 years or more thereafter. : So burnish your credit as much as you can these next few years so you’ll more easily qualify to buy another home when the time comes. : Good luck. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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