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Home Foreclosure


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My husband and I separated for almost a year, meanwhile I got behind on almost everything and my house foreclosed last month along with about 4 chargeoff credit card accounts. What are the chances of me every owning a home again? The home was only in my name.

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Don't stress too much. Credit repair takes time, and YES - you will definately be able to own a home again.

Credit is often referred to as a "snapshot" of your credit worthiness at a certain point in your life.

As time passes, the "snapshot" of that moment will pass as well.

Start now- repairing- READ, READ, READ this board, everyone here has experiences to offer.

I had a foreclosure in 04, and I was able to qualify for a mortgage in 06- but at a very high interest rate. In 08, I will check again.

However, with the help of this forum, I was able to get the foreclosure removed from 2 of my credit reports about 2 months ago.

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Awesome...

I was at the site over a year ago and got my score up to a 720, just feeling defeated I guess. All that work and here I am back where I started. If I did it before I can do it again!!! Gotta work my way up from a 450. Thanks for the advice!!!

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L,

I have had a home foreclosed on and filed BK twice (because of divorce and then an alkie/addict next spouse).

Years later, I cleaned up my report and the mtg loan officer didn't bat an eyelash as she gave me 'instant' approval! Boy did that feel good!

Also, I have gone from a 468 to 655 in one year so you can do this! It is only temporary!

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Awesome...

I was at the site over a year ago and got my score up to a 720, just feeling defeated I guess. All that work and here I am back where I started. If I did it before I can do it again!!! Gotta work my way up from a 450. Thanks for the advice!!!

L - have faith, short of filing B/K a few years ago, I was 511.

Now my credit is in the high 700's.

Most banks look at foreclosers - you need to wait a year, this is only temporary...

Make having good credit a life-long goal.....:)

.....

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I second everything else that has been said on this thread. In 2 short years you can be in good shape again. That is why I like the tag line I have. Seems like by looking back everything happened for a long term good reason.

One thing that I noticed is that you said that you were seperated from your husband for a year, and another thing is that you said that the home was in your name only.

If you are back together again, consider getting the loan for your next home in his name. Right after you close you can be added to the title - happens all of the time.

Charles

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Don't fret it, I'm in the same boat and once I found this site-you can take control of your credit rating and life (back from others).

From using advice...what I've learned you can have the items which are incorrect SOL, taken off your CF. Start there and take control of what ever problem caused the issue. I don't trust people to make my credit decisions without my researching-and getting it in writing. Check this site out, it will help and I know Arbor, Countrywide has offered me loans (once I get a few of the negative things I didn't know off my CF).

Good Luck!

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