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Property Management Blog

Mortgage After Foreclosure?

Saturday, December 18, 2010

Recently someone submitted a question to Bankrate.com and asked about the possibility of getting a mortgage after a foreclosure (read the full article here). The article goes on to discuss how difficult it can be to get a mortgage after a foreclosure. But, the sad part is that it is becoming that hard for many people to get a mortgage for many reasons other than a foreclosure. Bankrate offers a solution that we here at Group 15 have been endorsing for a long time now: Lease Option! There are many advantages as a buyer to locking in on a Lease Purchase instead of just renting and paying your landlord's mortgage. And you can take the steps necessary in the interim while you are in the midst of your Lease Purchase to then be able to exercise your option and get that mortgage that is elusive to you at this present time.  Read More »