Financial crisis?

Please can someone give me some direction. A few months ago my home was foreclosed on and the people who bought it at auction have been great trying to work with me to get it back. However, everything we try I am hitting a wall. I had some financial difficulties and have since cleared them up however it is a bit late. So now I will have a foreclosure on my credit and I am totally screwed. Does anybody have any ideas of what I could do to take care of this. Please do not be mean and send me messages about homeless shelters, I am not that down and out, I just don%26#039;t want to lose this home and I am running out of time. Any advice would be great. Scammers need not apply to answer.

Financial crisis?

You already lost your home. No one will lend you money. You must go get an apartment.

this is a 1+1=2 type of question

Thinking Guru mentioned getting a balloon mortgage for 3-5. Notice he is a mortgage broker. He is suggesting that you take a mortgage from the owners (at a high rate) where you would be responsible for the WHOLE Cost of the house at the end of 3-5 years or you would have to pray you find another mortgage.

He is a MORON who would cause you to pay a huge amount of interest over the next few years just so you could lose the house to the same people. He is the reason so many people are in trouble. Mortgage brokers should be held accountable for their poor financial advice.

Financial crisis?

I am really sorry you have lost your home. But it%26#039;s time to let it go and work on repairing your credit. With the financial crisis as you describe it, most lenders have tightened up the requirements and sub prime loans are no longer available.

I do wish you all the best.

Financial crisis?

You could ask the new owners about a %26quot;Contract for Deed%26quot; or %26quot;Land Contract%26quot;. In those situations the current owner is the Bank and you make %26quot;mortgage%26quot; payments to them as you would any lender. A typical Contract for Deed has a balloon payment at about 3-5 years. This gives you enough time to re-establish your credit and improve your chances of another loan while still paying down the balance owed on the home.

Your foreclosure will stick around for 10 years. However, the further away from it you are the less it affects your overall credit profile.