POINTS TO REMEMB O REMEMBER:
• Lenders are usually reluctant to grant you a mortgage after a recent foreclosure. However, if you can prove extenuating circumstances, they might work with you. • A federally insured FHA loan is a good option for obtaining a mortgage after foreclosure. However, you must wait three years after a completed foreclosure for loan approval. • When you’re emotionally and financially ready to look for a new home, do your research, consider working with an agent, and thoroughly examine homes that meet your criteria. • Decide which of the characteristics you want in a home are negotiable.
127
Powered by FlippingBook