Four Tips How Homeowners Can Rebuild Their Life After a Foreclosure

Lets face it, if you are facing the possibilities of losing your home due to a foreclosure and you think that you may never be able to purchase another home anytime soon. Keep reading.

I am going to share with you four steps you need to prepare yourself for that transition down the road. First, if you lost your home because of a foreclosure or youre about to, dont give up. The worst thing you can do right now, is to do nothing.

First: Get a copy of your credit report to see what a potential creditor will see and immediately start making repairs to clean up any negative infractions, stay away from credit repair companies.

Second: While you are rebuilding your credit, start putting together an emergency fund. Start off by saving three months of your mortgage/rent payments and three months of car payments for obvious reasons.

Three: Go to your book store, library or online and start educating yourself on lease purchase. I mention lease purchase because of your temporary credit and money requirements. You can normally get into a house with a small down payment and no credit check. Just be prepared to purchase that property down the road. That's why you need to clean up your credit and who knows, you might start making money with this new found information.

Here are two extraordinary sites for you to visit for more information: http://www.lease2puchase.com and http://www.creonline.com.

Four: Start putting together your financial plan. Set goals for your future retirement, college for you or your children. Start a business. Find a financial planner one who will work with you and his motivation is not to sell you something you don't need, just so he can get a commission.

When the time comes in a few years after you have put a down payment on your lease purchase home, rebuild your credit, raise your credit score; set aside an emergency fund and designed a financial plan, then you will be ready to buy your next home.

For a free report titled "How You Can Stop Your Home From Going Into Foreclosure Without Selling or Filing Bankruptcy", call 770-210-8797 or email: bjohn54928@aol.com

See Also:

Purchase Order Financing Overview
Knowing the ends and outs of purchase order financing is an asset to almost any small or medium sized business owner. In the sections below you will learn just exactly what purchase order financing is, the benefits, drawbacks, who can benefit the most from it, and would be likely to qualify for it ... more...

Should You Use a Lease/Purchase (Rent to Own) Approach to Sell or Rent Your Home?
Have you ever dealt with bad renters? Late payments? Stains on the carpet? Calls late at night about a stopped toilet? Sometimes being a Landlord is not a fun game, especially when you have a nice home and bad tenants.Have you taken advantage of the recent low interest rates and refinanced your ... more...

Rent To Own Homes Explained
If you desire to own your own home but are unable to secure conventional financing today, leasing a home with an option to buy may be your best option. A lease purchase can make your rent money work for you instead of making your landlord rich. Typically rent to own homes offer rent credits that ... more...

Creative Ways to Finance a Business Purchase
Youve just walked out of a business owners office, who has grown an established, profitable business that he is willing to sell to you, for very favorable purchase terms, at a fair price, but you have no clue how you are going to raise the necessary capital required to complete the purchase. ... more...