Losing a home is one of the biggest financial disasters that a family will experience. Getting over that, you have to move on to what’s next? Let’s answer the question: how long after foreclosure can I purchase a home?
It is literally possible, to purchase a new home for your family the same day that you have to move out of your foreclosed home. I know that this can sneak by as some good news amidst all the bad news that you have been going through.
If I were you right about now, I would be thinking that there is no way that I will be able to qualify for another loan to purchase another home. What if I told you that with this process that you don’t have to qualify for a loan?
All the things that come with foreclosure, such as damaged credit and stained reputation, will be eliminated with the way that you are going to purchase this new home for you and your family.
Average folks do not realize that there are millions of homes sold each and every year that have no mortgage lenders involved. We have all been told that you have to qualify for a mortgage to own a home. Not True!
Savvy real estate investors all over the country rely upon what is termed in the industry as creative real estate investing. This just means using other people’s money. Sounds a little scary if nothing else. That is exactly what a mortgage is. And no, you do not have to borrow from relatives or have a lot of cash of your own.
We are going to use a technique right out of their playbook known as a lease with the option to purchase. This powerful and very successful transaction will put you right back into home ownership as soon as the paperwork is signed. And yes, you will be the legal owner!
The real beauty of this is the fact that you are going to set the actual terms of the purchase. If you come across a deal that you do not like, you merely reject it and go on to the next one.
If you have ever searched for an apartment to live in, this process is about the same, with the exception that you are looking to own instead of just renting. Yes, it is that easy!
You will be amazed as to how quickly this can be accomplished if you are serious about owning your own home. How can I be so sure? That’s an easy one – I have done hundreds of these.