Consumers who’ve been through foreclosure may think their days of owning a home are over. Not true. Share the “5 Steps to Owning a Home Again After Foreclosure” from the November “Foreclosure Resource Guide” now available at the REALTOR® Content Resource. Here’s just some of the information:
1. Rebuild your nest egg. Establish a safety net. Since you’re coming out of foreclosure, having six months of living expenses in a liquid account is a minimum to show stability and that you’re able to pay your bills if you lose your job.
2. Raise your credit score. After foreclosure, your credit score, according to myFICO, probably dropped by about 150 points. Raise it with perseverance. Pay bills on time, and keep your credit card balances below maximum levels. The foreclosure will stay on your credit report up to seven years, but it will become less of a red mark as years go by.
With new enhancements to the REALTOR® Content Resource, you can now share this and other articles with consumers via Facebook, Twitter, and e-mail directly from the REALTOR® Content Resource.You can also search more easily for content by themes (formerly “Collections”) or keywords.
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