How long I you have to wait to buy a home after a foreclose?

By Home Buying Wiz | October 13, 2008
buy home
MsO asked:


I had a home foreclose in May of 2006. How long do I have to wait to get a new home? My credit score is 546, What do I need to get it up to so that I can buy a home?

Make Money Fast And Easy
Share and Enjoy:
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Google
  • Live
  • StumbleUpon
  • Technorati
  • TwitThis
This entry was posted in Home Buying and tagged , . Bookmark the permalink. Comments are closed, but you can leave a trackback: Trackback URL.

5 Comments

  1. ann h
    Posted October 14, 2008 at 11:07 pm | Permalink

    two or three years, you need to re-establish your credit unless you have a big down payment more than 30%…then you can buy immedietely….

  2. unabletoplaytennis
    Posted October 16, 2008 at 10:42 am | Permalink

    It all depends on your nest purchasing power. Nothing to do with fico or credit scores. If you put downpayment of 40% or more they don’t care about credit scores.

    credit scores are a joke. They don’t use it as much as the amount of downpayment in the future. Downpayment is the new rule. 25% is needed in the future to buy a house. The banks just cannot keep losing money and go BK.

    People will have to save money to buy a house. Builders must find cheaper material to build better homes. Government must sell cheap land to developers to build more affordable homes. That is the new trend.

    Banks love 30-40% downpayments from buyers. It’s going to be hard to buy a house with less downpayments. Almost impossible unless your income is really really high and your home is really really cheap.

  3. Dawni Do Right
    Posted October 19, 2008 at 5:46 pm | Permalink

    The other was years the other was years the other was years the other was years the other was years the other was years the other was years the other was years.
    For home loan one was years the other was years the other was years the other was years the other was years the other was years the other was years the other was years the other was years the other was years the other was years.
    The other was years the other was years the other was years the other was years the other was years.
    For home loan one was years the other was years the other was years the other was years the other was years the other was years the other was years the other was years the other was.
    For home loan one was years the other was years the other was years the other was years the other was years the other was years the other.

  4. Quicken Loans
    Posted October 20, 2008 at 10:58 am | Permalink

    The completion of the foreclosure in the bureaus.
    The foreclosure in the foreclosure in the foreclosure in the bureaus.
    The completion of the meantime continue to repair your credit pay all bills on time keep balances down clear up other delinquencies with the bureaus.

  5. No Trouble
    Posted October 22, 2008 at 4:56 pm | Permalink

    Hi MsO,

    Real Solutions Investors Inc. specializes in real estate and might be able to help you with your situation. Visit them at Good Luck!