So You Lost Your House Essay example

984 Words Nov 18th, 2014 4 Pages
SO YOU LOST YOUR HOUSE TO FORECLOSURE. WHAT WILL YOU DO NOW?
Maybe it was because of a job loss or divorce. Maybe there was a medical issue. The fact remains, you’re starting over and it might not be anything you did wrong. A lot of people are in a similar situation. The good news is, as a boomerang buyer, you’re in a unique position to bounce back and reenter the ranks of successful homeownership. With a new set of tools and industry knowledge, you can get back into your dream home.

WHAT’S IN YOUR TOOLBOX?
Because you’ve been down this road before, you know what to expect in the home buying process. You’re not likely to make new homebuyer mistakes you may have made when buying a home before. You already know about points and how to choose a realtor. You know how to shop for an interest rate and what to look for in a home and where the best location would be. But also, you’re far more savvy than before in other ways.

You’re motivated. You 've been through hell since your foreclosure, and if you really want to buy a house, you want to do whatever it takes. Besides realizing that your credit is key to getting positioned for that next big step, you also know to put some money away. Make saving money a goal early on. The more you sock away, the easier closing costs will be to manage. And it will give you a better advantage when you make that earnest money payment. Further, you know that networking with people and searching for special financing and programs for…

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