Monday, November 14, 2011

I just foreclosed on my house and need advice.will i ever be able to get a home loan again, with a 100k salary

yes i did ruin my credit badly i bought the house when i was 25 with over 700 credit score i was load off my job shortly after and struggled, had past dues 30s and 60s, i was barely making it.i decided to move out of state and decided to keep the house, my new salary was barely covering my rent and my mortgage along with the new expenses, so i decided to rent it out, bad idea, bad renters, destroyed it, never paid. i fell behind more and more. believe it or not, there has been a breakthrough in my career with my potentional salary be doubled, the only problem is it wont take in effect till the following few months unfortuantely for me i couldnt stop the foreclosure sale on my house and the mortgage company would not stop or postpone the sale even after providing most of the past dues.the sale went thru this morning. i am devastated yet relieved their redemption perion is for the full payoff amount.now my credit is at rock bottom.no creditcard debt tho, how long will my credit be shot?

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