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Updated about 6 years ago on .

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Chris Hammack
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Am i doomed to 3 years of paying rent.

Chris Hammack
Posted

I am facing foreclosure on my current property due to a co owner becoming medically incapacitated and no one able to handle his affairs. Current private money balloon payment is due and they stopped accepting payments, i have secure another private money loan to pay it but must clean up the title first. I accept my losses and lumps and have learned a hard lesson in living wills and POA. I was going to be able to get a FHA as long as it could have gotten done before the foreclosure went public, i have excellent credit and spouse has good credit. I have a house hack lined up with renters to rent rooms and own a large RV for myself. my property is now listed as in pre foreclosure and killed the FHA loan.

Is there any kind of loan out there for my situation and low down? Would a private investor even touch it for short term interest only until i get beyond the foreclosure time frame? 

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