After experiencing the dreaded foreclosure or bankruptcy, you might worry that mortgage lenders will reject you when you attempt to buy another home. Anxiety over, “Will they think it’ll happen again and not give me a chance?” is perfectly logical. Luckily, you have no need to worry. Buying a home after bankruptcy is still a real possibility.
Foreclosure or Bankruptcy is Not the End of Homeownership
While your foreclosure did mean the loss of your first home, it will not thwart your ability to buy a new one. Mortgage programs today all include guidelines for those who’ve experienced bankruptcy to qualify. There are several ways you can recover from your setback.