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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Getting Back on Track Posted by United FreshStart on June 17, 2003 at 3:01 PM In Reply to: life after foreclosure posted by jl on June 11, 2003 at 10:14 PM Rather than play the odds and suffer negative consquences, many people who want to save their home (not sell it to discount foreclosure buyers) are quick to seek out competent professionals who can successfully guide them in avoiding foreclosure. Our experience is that once our customers have successfully saved their homes from foreclosure they are typically able to refinance or get a new loan approximately 6-12 months afterward. The previous comments regarding the size of your downpayment are critical. And, as always, think hard before you take out an 2nd mortgage or refinance for the purpose of borrowing against the equity you've earned. Of course, if you have already been foreclosed on, then lenders will typically require a longer period of good credit (varies, depending on current market conditions and on the size of your down) before risking a new loan with someone who was recently foreclosed on. Don't let that deter you; if you've kept yourself clean after a foreclosure, with patience and persistence, you will find a mortgage company or broker who can work with your past and still deliver a quality loan package. United FreshStart - Stop Foreclosure Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Rather than play the odds and suffer negative consquences, many people who want to save their home (not sell it to discount foreclosure buyers) are quick to seek out competent professionals who can successfully guide them in avoiding foreclosure. : Our experience is that once our customers have successfully saved their homes from foreclosure they are typically able to refinance or get a new loan approximately 6-12 months afterward. The previous comments regarding the size of your downpayment are critical. And, as always, think hard before you take out an 2nd mortgage or refinance for the purpose of borrowing against the equity you've earned. : Of course, if you have already been foreclosed on, then lenders will typically require a longer period of good credit (varies, depending on current market conditions and on the size of your down) before risking a new loan with someone who was recently foreclosed on. Don't let that deter you; if you've kept yourself clean after a foreclosure, with patience and persistence, you will find a mortgage company or broker who can work with your past and still deliver a quality loan package. 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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