january foreclosures
I am letting my condo go will I be able to buy again?
I own a condo and it went into foreclosure. Its up for sale the end of January and I am fine with it because it was starting to be more than its worth. I have it on the market to sell but in case it doesn’t sale and it goes to Sheriffs auction. Will I be able to buy something again a couple of years from now?
Sure, but your interest rate will be considerably higher and banks will be less likely to lend to you. You’ll also need a sizable down payment.
A foreclosure stays on your credit for 7 years and could drop your credit score 300 points.
