I lost my house 2 years ago, come this may. My credit score is about 646. my debt is about $5,000. Most is from the business that i own, $1500.00 is personal. Iam a single mom of two children. Iget no financial help. My Business gross is about $250,000, I only took home $24,000 last year. I rent now and pay about 2100.00 a month..... I like 15 year loans. Iwas looking for a loan between 150,000 to 200,000 if possible. Ihave right now about 14,000 saved for a down payment. do i have a chance?

You will have to wait until the the foreclosure seasons for 3 full years. You need to see when the property changed ownership as that is the day lenders will start counting the 36 month period to allow for a new purchase.Best of Luck

If you are a Veteran the seasoning is for only 2 years. We do have some lease to own options if your interested in a particular home.

The waiting period for a foreclosure is 3 years... self employed borrowers face a harder time getting approved for larger loan amounts because their income is usually disguised by a myriad of write offs... As a business owner, you can write off everything and you should, however the lender is going to look at your adjusted gross income, after all deductions... they can add back in a few things like depreciation etc, however it usually dosent amount to much.. if you make $24K, or 2000 per month, and had no bills at all, your maximum home sale price would be around $100K... Contact a local mortgage broker, not a bank, and apply with him.. he can look at your taxes and advise you on how to position your self to purchase a new home... WilliamAcres.com