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Houses go into foreclosure when the owner can no longer afford to make the house payments. Many people look to purchase foreclosure homes as they can often be purchased for a low price.
If your chapter 7 has been closed, yes - if you can find a lender for another mortgage. Your credit scores will have lowered because of the filing and discharge.
Purchasing a home in foreclosure is easy. Contact the agent that has the property listed for the bank, submit and offer, have an inspection and close on the house if your offer is approved.
Yes you can purchase property. The problem is finding another lender willing to give you a loan that is affordable.
the owner who is in foreclosure is attempting to sell the house before the foreclosure goes through. this is completely legal. if they want to sell the house for less than the amount that is owed to to the holder of the mortgage they will need to get the mortgage holders agreement.
you could buy another house or sue the people and ask why are they doing this
You can put a house up for sale in foreclosure, but the foreclosure process could happen before the house sells. It doesn't make any sense, if you would like to sell the house, do so before foreclosure.
Yes, you get the best deal by buying a house at a foreclosure auction. You can read more at www.realtytrac.com/foreclosure/Auction/how-to-buy-homes-at-auction.html
in new york how long can you live in your house once foreclosure starts
My house is going through foreclosure. My biggest need is money to move and finding a place to rent.
Yes. Note that your credit score would be adversely affected.
It's better to sign the house back to the financer to save them the trouble of going through foreclosure, just for their convenience. If you keep your credit clean for a few (3 or more) years, you should be able to purchase a house, but be prepared to come up with a 20% down-payment and pay higher interest than others. Generally speaking a foreclosure will effect your ability to buy another home for around five years. If you are able to do it a short sale would be a better route than being foreclosed on. You can also consult with an experienced bankruptcy attorney if you have questions.