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I assume you lived in a house that was repossessed. The answer is yes it is possible to purchase another house after your house was repossessed. No law says otherwise. Banks and mortgage companies might have more stringent requirements, which they do than they did during the era of adjustable rate mortgages. The banks got burned on them just as did homeowners who lost their homes. The banks now own those houses and need to dump them for whatever they can get.
Your problem is to prove that you can now pay your bills. If you get a car, keep up your monthly payments. If you have a credit card that you pay off every month, keep it. Get another one and use it for a few purchases each month. Keep a running balance on it. You will be paying interest. Pay it regularly. Believe it or not, you will need that to keep up your credit! Ok, it sounds stupid and is. Life is stupid!
After you have gotten to the point where you have saved enough to make a downpayment on a house and have built up credit with payments on a car and a credit card, you should be able to get a loan on a house. Good luck.
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What is the process of house repossession?
House repossession refers to the process by which a financial organization takes ownership of the house as collateral due to failed payments or inability to pay.
When would a house be in danger of repossession?
Typically, a house can be repossessed after 90 days of non payment by the mortgage holder. However, it is not illegal for repossession to begin after a missed payment, though this is extremely rare.
can you get a grant to buy a house?
can you get a grant to buy a house
Can you remove a repossession off your credit report if your cosigner has a judgment on the repossession?
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
What does ascension capital group do?
They buy loans that are on their way to bankruptcy, repossession, or in a long state of defaulted payments. They are almost impossible to reach.
What is the process of house repossession?
House repossession refers to the process by which a financial organization takes ownership of the house as collateral due to failed payments or inability to pay.
What are the risks of high debt levels?
house/car repossession
What is the car repossession law in Arizona?
check with your court house.
When would a house be in danger of repossession?
Typically, a house can be repossessed after 90 days of non payment by the mortgage holder. However, it is not illegal for repossession to begin after a missed payment, though this is extremely rare.
Your house has been repossessed but the land remains in your name?
No. The house is attached to the land, so, the land is included in the repossession.
Can you get your car back after repossession for no insurance from a buy here pay here?
no you can not sory
What has the author Rebecca A Harris written?
Rebecca A. Harris has written: 'How to buy government foreclosures' -- subject(s): Directories, Foreclosure, Government sale of real property, House buying, Mortgage loans, Repossession
If you do a voluntary repossession on your auto can your house be taken by the bank if you have no equity in it?
NO. They can't take what you don't have.
Where can you buy shirts for your repossession business?
I make them for $12 a piece. Email me at damagefreerecovery@yahoo.com
buy a house?
buy a house
If you bought a used car and want to return it and buy a cheaper one will it ruin your credit?
What makes you think you can just return it. You can't. You bought it, you own it. Now if you are talking about doing a voluntary repossession, of course it will ruin your credit for 7 years. A repossession is a repossession, voluntary or not.
Where can one sell their house and the rent it back?
One can sell their house and rent it back from the following companies: Rent back expert, Nihe, Market watch, Land property - finder, for sale by owner, Quick sale, Repossession, Buy sell property fast, to name a few.
