Rebuilding credit hard, but doable
Depending on circumstances, some can buy a home again in just two years
There's hope for home ownership after foreclosure.
"Its really rebuilding your credit and saving, is what it amounts to," said Viki Hettinger, a mortgage consultant with Wintrust Mortgage in Crystal Lake. "Rebuild your credit, save your money, and you can purchase your new home."
According to the Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac, a foreclosure can impact credit for as long as seven years, but owning a home again is still possible.
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