Buying A Home After Foreclosure

by Katrina
(Lancaster, California USA)

Ask Kate about buying a home after foreclosure: Hi Kate! I have two clients trying to qualify for a home loan. They make good income, have decent credit scores and a 10 percent down payment. If they need a conventional mortgage, it isn't too much of an issue.

However, one of my Lenders found a Foreclosure on their record back in 2007. Is there any way around that?

They already own a home with FHA financing, but would like to upgrade to accommodate a growing family. Is their dream of finding a new home no longer a reality?

Any ideas that might help would be greatly appreciated. Katrina

Kate Answers: Buying A Home After Foreclosure Question

Dear Katrina, It is estimated that 80 percent of credit reports have errors.

That is a shocking statistic when you consider how much that costs consumers. So it is safe to say, credit repair is in great need.

The Fair Credit Reporting Act of 1971 allows the disputing of inaccurate items on credit reports. This includes, but is not limited to, bankruptcies, foreclosure, and liens.

If the listing is inaccurate, incomplete, misleading or unverifiable, it can be removed.

Understanding Your Credit Rights

Anyone can restore their credit on their own. But do they have the time to spare and a knowledge of credit laws?

Katrina, keeping that in mind yesterday, I wrote a review of Lexington Law, one of the largest and most respected credit repair firms in America, for your home buyers and others who are buying a home after foreclosure.

In fact anyone in need of credit repair should take a look at my Lexington Law Review.

I feel certain it is a promise of a better tomorrow for your clients.

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Best Wishes,








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