Apr
13
Tips on Applying for a Mortgage After a Foreclosure
ByRecovering from a negative credit event like a foreclosure can take years—seven years in many cases.
A growing number of Americans are reaching that juncture after going into foreclosure early in the housing crisis.
During that seven-year period, gaining access to loans is challenging, particularly in the first two to three years. Getting approved for a car loan or credit card is possible, though the interest rates you’ll be charged will be high. But finding a lender that will give you a mortgage will be a lot harder in most cases…