Homeowners buying new home after florida floreclosure
The way a foreclosure is handled has a big impact on how soon you can buy again
Losing your home to foreclosure is a stressful, painful journey – and one to be avoided at all costs. The failure to stop a foreclosure, however, does not mean you can never buy a home again. It’s important to note that most lenders focus on the previous two years of credit history. So, while a foreclosure remains on your credit report for seven years, it becomes a less important factor the further you get from it.
How your foreclosure was handled is a critical factor to being able to buy again.
There have been too many mistakes perpetrated by banks and mortgage lenders in the past. They simply cannot be trusted to properly handle a legal matter such as a foreclosure. In fact, media reports indicate that they have carried over their mishandling, shoddy documentation skills, and abusive practices from the lending world into the foreclosure world without missing a step.
Stop a Foreclosure – or at least Get it Done Right – with a Florida Foreclosure Defense Firm
In any foreclosure defense strategy, a foreclosure defense attorney is your first line of defense, and here’s a few reasons to back that up:
- Too many homeowners have been bullied into foreclosure when they could have enjoyed a federal government-backed loan modification instead.
- Too many homeowners saw the banks take their savings, their retirement funds, and more – all of which are profoundly illegal and a foreclosure lawyer would have protected them.
- Too many homeowners have other options that do not affect their credit rating as hard, including short-sale and deed-in-lieu.
- Too many homeowners handed over their keys in good faith only to be persecuted after the fact by banks who wanted even more money from them when the house didn’t sell for a good price.
With an experienced foreclosure defense lawyer on your side, you’ll avoid the extenuating circumstances, prosecution and downright hassle of working with the same disreputable institutions that took taxpayer funds because they were ‘too big to fail’ then turned their backs on struggling homeowners.
Your Right to Buy a Home in Florida After Foreclosure
The waiting period for buying a home after foreclosure is higher than that waiting period after a short-sale or deed-in-lieu. When the foreclosure is properly handled and you are free of further responsibilities regarding your former home, you can try to purchase a home after three years even though the foreclosure record remains on your credit report for seven years.
When a foreclosure is handled properly (read: ‘legally’) a homeowner is in a better position to start again with a cleaner slate. Avoid the stain of foreclosure by staging a good foreclosure defense, and if you can’t avoid it, know that it’s done properly with a legally empowered foreclosure attorney who has your best interests at heart.
For a no cost, no obligation consultation and review of your case call a Legal Help Group professional right now at (877) 304-9404, or fill out the “contact me” form to connect with a Florida foreclosure defense attorney.