Get a Home in Two Years after Florida Foreclosures and Bankruptcy!
There was an abundance of Florida Foreclosures out there when we were searching for our new home 5 years ago. Times were tough and with the drop in the housing market, some people had no other choice but to file for Bankruptcy. It’s nothing to be ashamed, it happens a lot in these tough times. Every year more than 1.5 million Americans file for Bankruptcy for a variety of reasons. While Bankruptcy may have had a negative connotation years ago, it does now offer individuals withe devastated finances a fresh new start.
But, what most people don’t know is that there is hope for buying another house after all this happens. Many people think that with foreclosure and bankruptcy, they won’t be able to buy a home until the Bankruptcy is discharged…7 years later.
With the most recent changes comes new rules for Florida foreclosures. The new Fannie Mae lending guidelines allow you to purchase another home just two years after your foreclosure.
How does it work?
In order to qualify to purchase a new home in 24 months, you must file Bankruptcy to get rid of your mortgage debt. By filing Bankruptcy, you eliminate all your debt and are able to save up money to buy a new home. By filing for Bankruptcy, you can also now combine include credit cards, automobile, medical and possible other major debts.
What is KEL?
KEL has developed strategy that could drastically reduce the wait time and eliminate all other approved debt. You will be able to save money, begin a fresh start and live the American Dream once again!
The FHA and the VA have specific guidelines for people who have filed Chapter 7 liquidation bankruptcy. For instance, the borrower must have reestablished good credit or chosen not to incur new credit and has demonstrated an ability to manage financial affairs.
Matt Englett of KEL – “You CAN NOW get a new mortgage as FAST as 24 months if you have been through a FORECLOSURE!”
Topic: Florida Foreclosures and Bankruptcy