Re: Buying after foreclosure

Posted by Barbara Irish on September 19, 2005 at 07:46:06:

In Reply to: Buying after foreclosure posted by Mark on September 07, 2005 at 19:36:14:

: My husband and I lost our home to foreclosure on 2/28/05. We too were in a good position financially and had decent credit scores. I am overwhelmed to report that we were able to purchase a home less than 6 months after the foreclosure with 15% down, 30 year fixed rate (10% - but we can refinance in one year to a lower more competitive rate). Yes, the interest rate is high, but it is not financially impossible and at least we were able to get into our new home with a fresh start and now we have a bright future again! Wells Fargo is the lender and they have been great to work with through the entire process.

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: :    My husband and I lost our home to foreclosure on 2/28/05.  We too were in a good position financially and had decent credit scores.  I am overwhelmed to report that we were able to purchase a home less than 6 months after the foreclosure with 15% down, 30 year fixed rate (10% - but we can refinance in one year to a lower more competitive rate).  Yes, the interest rate is high, but it is not financially impossible and at least we were able to get into our new home with a fresh start and now we have a bright future again!  Wells Fargo is the lender and they have been great to work with through the entire process.


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