I want to buy a foreclosure home but, my credit is awful. I have a low credit score and a bankruptcy. What can I do ?

I am aware that a foreclosure will stay on ones credit report for 7 years but when does that time begin to pass? Is it from the time you first start the foreclosure process or once the property is sold at auction and account written off?

Also can you help me understand what a tax lien property is and it’s buying process and foreclosure’s buying process, which is better?

I found some very nice homes that I like but the listing is listed as RESALE can someone please explain to me what is the difference between foreclosure and resale.How much more paper work do you need when buying a resale ?how long will it take for the deal to go through?

So we are in the market for a new home and need to be pointed in the right direction

What is the easiest way to find foreclosure homes around your area?

We live in Hawaii and our mortgage has become unmanageable. We just found out our house is worth 64k less than we owe. We have good credit though are overextended because of mortgage. No defaults and one 30 day late pay. We want to sell but do not have the credit left to get a 64k loan to pay off the rest of the loan. We desperately do not want to go into foreclosure. Any options anyone is aware of?

I was on yahoo real estate recently, and I clicked on foreclosure and I arranged the prices of the homes from the cheapest to the most expensive. I found some homes in my area with a price of about three thousand. Now is that a buy in price to take over the mortgage or what? How does that whole thing work? What are the dangers?

My townhome is scheduled for foreclosure sale date May 13th 2009.
My chapter 7 bankruptcy will be filed 3/25/09. How long will this delay the foreclosure sale?

I know that it “ruins” your credit, but that’s not necessarily true. Millions of people with car loans and house loans currently defaulted on items in the past.

I want to know for someone that has always paid on time. How precisely will a foreclosure effect my future life?

I live in Dallas, TX. Will you recommend buying a foreclosure home?
What is the advantage and disadvantage of buying a foreclosure home?

Please help. I’ll pick the best answer later.