how hard is it to lease a home after foreclosure ?
cynthia p asked:
we bought a home 4 years ago did not get fixed rate , payments went up above our means to keep and have been forced to try to sell-short sell. no luck yet foreclosure is next. and would like to be prepared, we are hard working parents trying to have something nice for our family. i would like to lease a home ,my question is; how long before we can purchase another home?
This entry was posted
on Wednesday, November 26th, 2008 at 9:49 pm and is filed under Real Estate.
You can follow any responses to this entry through the RSS 2.0 feed.
Both comments and pings are currently closed.
we bought a home 4 years ago did not get fixed rate , payments went up above our means to keep and have been forced to try to sell-short sell. no luck yet foreclosure is next. and would like to be prepared, we are hard working parents trying to have something nice for our family. i would like to lease a home ,my question is; how long before we can purchase another home?
November 28th, 2008 at 7:09 am
There was a great deal of fraud associated with these loans.
I recommend that you contact your local District Attorney’s anti fraud unit and file a complaint against the lender who arranged this loan. that is all of the mortgage brokers, loan officers and the wholesale lender themselves.
They are not supposed to put you in a loan that you will not be able to repay when the loan adjusts.
I recommend that you file complaints against any real estate brokers and real estate agents involved with the Department of real estate for your state.
Also if any of the loan officers are not licensed by the Department of real estate, they should be licensed by the Department of Corporations. I recommend that you also file complaints with the Department of Corporations.
For any people who should have been licensed but were not, I recommend that you file also file complaints against them with the State Attorney General’s Office.
There has been a ridiculous amount of fraud in the real estate industry.
the best way to clear out this fraud is to prosecute the real estate brokers and agents involved. Put them in jail and revoke their licenses.
We need a wholesale cleaning of the real estate business. These people have not served the public well.
We need to clean out this business and replace the miscreants with honest people.
We may need to clear out all of the people in this business because they have developed too many bad habits.
there are plenty of people who have lost their jobs who would love to enter the real estate industry.
What we need to do is get rid of the people who are currently in the business and then start over with all new people. We could provide funds for retraining people who have been laid off and put them into the real estate business.
the people who are currently in the business have failed and we need to get rid of them and start over.
If you will hire an attorney and make complaints to the District Attorney and have your attorney go after the lenders involved there is a good chance that you will be able to collects some damages and you will put some crooks out of business so the cannot do damage to other people.
November 29th, 2008 at 11:31 pm
turn yourself into the authorities for trying to flip the property…
December 1st, 2008 at 6:33 am
It will take 7-10 years after you foreclose to buy anything.
You may have trouble with a average rental, your credit report states that you refused to pay your mortgage and screwed the bank. Many landlords will face foreclosure themselves if you decide to ***** them as well.