foreclosed in 2008.. father is ill, can i buy out my siblings for the home?
The home would cost me around 50k to buy them out but my issue is qualifying considering my previous foreclosure and credit score. Can I get a decent rate or even qualify for an fha loan by marc.us14bishop156 from Redlands, California. Jan 6th 2014
Bill Ladewig (bill@yourfhaguru.com)
#362 ranked lender in California - 34 contributions
Enough time has elapsed to qualify for FHA the rest depends on you current credit and income. It takes only a few minutes. Call me at 866-204-9733
Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions
depends on how long it has been since the foreclosure and what your credit looks like now. If the house has equity in it (as seems likely) you may be able to count that as your downpayment.
Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions
Sorry missed the 2008 date above, if your credit has recovered enough/you have reestablished some positive tradelines this shouldn't be difficult depending on the details.
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
FHA requires 3 years after the foreclosure, so it looks like you would be OK... although FHA does not have a minimum credit score, the lenders that actually do the financing will.. and for most it's 640 or higher.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
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