0
Most likely the hit on your credit report will tell creditors/lenders that you are not a good loan risk and they may not give you a loan.
But, it is not impossible to rebound from a dent in your credit of that size.
It's a pretty big hit but it is strictly up to the lender's discretion as to whether you are creditworthy.
Another consideration is if the home actually went into full foreclosure. If it was foreclosed, you will have to wait at least two to three years, if you have FHA, VA, Conventional. If the loan was Government insured, you will have to look at conventional options if your lender took a loss.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What is the solution of house foreclosure?
There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
How do you buy a second house and get a 2nd residential mortgage when you already have a mortgage on your first house?
Sexytime with banker.
How can one buy a house with no mortgage?
One can buy a house with no mortgage if they are wealthy individuals who do not need loans to pay off a house. They usually pay the full amount of a house in cash.
How does mortgage help someone buy a house?
y7gt7y
How does it take for a you to get kicked out of your house under a foreclosure?
That depends what state you reside in . There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
How can you buy a house that someone has walked away from?
Buying a house that someone walked away from may seem inviting. Contact the bank that funded the mortgage to see if you can take over the mortgage or see if there is a realtor who can help you.
What is the solution of house foreclosure?
There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
What is a loan to buy a house?
mortgage
How do you buy a second house and get a 2nd residential mortgage when you already have a mortgage on your first house?
Sexytime with banker.
How can one buy a house with no mortgage?
One can buy a house with no mortgage if they are wealthy individuals who do not need loans to pay off a house. They usually pay the full amount of a house in cash.
What is the difference between a construction mortgage loan and a normal mortgage loan?
A normal mortgage is borrowing money to buy a house. A construction mortgage is when you own a house and borrow money against the house for repairs or renovations.
How does mortgage help someone buy a house?
y7gt7y
What is a loan to buy a house called?
A mortgage Rose
How does it take for a you to get kicked out of your house under a foreclosure?
That depends what state you reside in . There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
What is the foreclosure process on your house?
That depends on your state. The laws for foreclosure are set by state. There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
Can two people take out a mortgage loan to buy a house?
yes.
Sum of money borrowed to buy a house is called what?
Loan
