Question
can i Buy house after foreclosure?
I have filed bankruptcy a little bit ago. I keep my car a lease and my house. Somethings in my life have changed will not git in to all that. now i have to let car go back and foreclose on my house. Will i ever be able to buy a house again. I cant sell it as it is worth like 50k less than payoff. PLEASE HELP!!!!
6 months ago - 2 answers
Best Answer
Chosen by Asker
You're better off trying to sell the house even if you get $50,000 less for it. At least most of the mortgage will be paid off. Then you'll just be liable for the rest of the loan. That's better than being liable for the whole thing. If you do let it go into foreclosure, you'll always have a very difficult time getting a home loan. Even after the 7 -10 years on your credit report, a bank will ask you specifically if you've ever gone bankrupt or foreclosed. If you lie about that on a loan application, then you're asking for a whole new set of problems.
Source(s)
I'm a licensed realtor.
by Proudmom
6 months ago
Asker's Rating: 
Other Answers
it will take 7 years for all the crap to get get off your credit
by Randy F- 6 months ago