How to Buy a Home after a Financial Hardship

How to Buy a Home after a Financial Hardship

Show Notes

Having a financial hardship in the past does not mean that you cannot qualify for a home mortgage.

Many homebuyers believe that you are penalized, or have increased rates and costs if have had a bankruptcy, foreclosure, short sale, or deed in lieu in the past.

It doesn’t help that many loan officer and lenders either do not understand the guidelines, or simply choose to not work with homebuyers with a financial hardship event in the past.

Quite simply, the only penalty following a significant financial hardship is a waiting period.  Do the time, and you’ll be just fine!

Links and Resources

We’ve been covering this topic since early 2011.  I have answered literally thousands of questions from consumers all over the Country.

Below you will find the most popular articles covering this topic:

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About the Author

Scott Schang

A 20+ year veteran of the Mortgage and Real Estate industry, I am passionate about educating and empowering consumers. I have been writing about consumer protection issues and making sense of complicated real estate and mortgage topics on this website since 2007

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  • Robert says:

    Hi my name is Robert I am just wanting to know how to buy a house with bad credit I was trying to start a small business and have gone through some hard times and have gotten my self in to trouble financially and working on getting my self out of it but I need to get a house so I am looking at all options

    • Scott Schang says:

      Hi Robert. There are a couple of things you’ll want to be aware of here. The credit can always be improved with time and proactive, best practices. The small business might be a hurdle if you need income from it to qualify for the mortgage.

      Feel free to shoot me an email directly to scott@findmywayhome.com and let’s see if we can get you pointed in the right direction!

      Hope this helps?