Question:

How to get a mortgage after a foreclosure?

Answer:

If you have your house recently foreclosed on, your credit has probably dropped below 600 and getting a mortgage after a foreclosure can be very difficult. You have no option other than rebuilding your credit before you apply for another loan so that you get decent rates, and may have to address a legal credit repair company to help you improve credit.

Way to go shopping for a mortgage after a foreclosure is to get a mortgage broker or subprime lender. Many of them will have online forms to quickly assess your application. You should stick with those who have an office so that after you get a free quote you can go and discuss face to face.

Do not forget to always check the mortgage company or broker you are going to have dealings with. Always check for loan provider registration and testimonials, compare quotes, try to fix your credit and getting a new mortgage after a foreclosure will not have to be so hard.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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