Pat H
Pat H
Browsing Housing
2 years ago

How long I have to wait to buy again after foreclosure

Want to buy a small Lake house as a permanent retirement home in Southwest MI.Had a foreclosure. When can we hope to buy again? $75,000 income, some savings and 401K
Lost our home14 months ago.Had to file BKCY following loss of income and two major illnesses between my husband and I all within 4 months of each other. We are now renting @ $1000 per month. Looking for around $80K to $90 K in Gladwin Michigan
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Michael Vallely
Michael Vallely
Real Estate Professional
1 Like
0 Replies
2 years ago
Pat, Generally for a fha insured loan your looking at 3 yrs, for a conventional normally 5 yrs. Hope that helps.

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