Can You Buy After Your Short Sale or Foreclosure?

Robert Johnson, the president of The Duncan Duo Team, joins me today to talk to you about something that may surprise you. If you had a short sale or foreclosure a few years ago, you may think that you cannot buy a home or you may hesitate to buy a new home because you are concerned about your credit.

Well, we have some news for you: You may be able to buy again!

Different mortgage lenders have different time frames, and every investor is a little bit different in terms of how that process works and when those events fall off. In fact, we are helping people every single week get into a home that had a short sale, foreclosure, or delinquency situation.

So, if you are someone who bought and sold and then had a problem, do not be discouraged because there is an option out there for you.

Also, since the economic crash happened so long ago, we started helping more and more people through those issues over the years. With the short sale they had to wait two or three years and three to four years for foreclosures, and that time has passed. Now we are seeing people who have foreclosures buying and selling.

Even if enough time has passed since your foreclosure or short sale, you can have someone purchase the home you want and rent it from them until you are ready to purchase.

There are a lot of programs out there that can help you, and oftentimes lenders will know about those programs that can help you buy. Many people are now considered first-time homebuyers again and are unaware of this because they have not talked to a real estate professional. Our team knows all about these opportunities and programs that are out there. We can educate and guide you the right way.

If you're a buyer and not enough time has passed or your credit still isn't high enough, there are programs out there that allow you to pick the home you want, we have somebody else buy it, and then you rent it until your credit is where it needs to be for you to purchase it yourself. You can start buying it now without an actual mortgage.

No matter what, you need a second opinion. There are companies out there that may be able to give you a loan in a great industry and if that is not possible, we can introduce you to one of the lease-to-own programs.

Too often we see people who think that they cannot look at homes for sale when they can. It is about knowing your options and talking to a professional. If you are one of these many people who needs to know the options, feel free to reach out to us. We would love to help you make your owning goals a reality.

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