Now that we have talked about the time it takes for you to get a new home if you file for bankruptcy, it is now time for us to touch base on how you can get a new home for if you have foreclosed on your house.

If you had a foreclosure, you need to wait about three years from the date of the sheriff’s sale/auction or short sale on your previous property.  There is only one exception to the rule and that is what is called a ‘documented extenuating circumstances’, these include death, job loss or disability.  Even then, it is mostly at the lenders discretion.

It is obvious that if you have foreclosed on a home or went into bankruptcy, you are not going to have stellar credit – that is something that you want to work on.  You want to make sure that you get back into the perfect credit area – that includes paying your bills on time and making sure that your credit score stays between 620 and 740+.