Amanda,
I was once your age and a lot of years ago. I have had homes since then and unfortunately my credit went up and down over that time being single with 4 children. You have time and must learn from this now.
Start making your rent payments on time keep receipts and try to stay in one job and one place for a while and you will have better credit and a home before you know it.
Margaret

No Amanda, you cannot get financing on a foreclosure with poor credit and a recent foreclosure. Please know that no reputable lender would give you a mortgage in your current situation and I would be very leery of anyone who would.

You know you need to repair your credit. Start now. You can do it. Best of luck.

Hi Amanda,

The new law states that you really can't get financing for a home (once you've had a foreclosure on your credit) for 3 years. You may be able to find an investor who's doing "owner financing" or a lease with the option to buy. However, they are typically looking for people with plenty of money to work with on securing a property and continuity of payments, a great job/income source and credit that's repairable.

Your best bet right now is to rent something and work on your credit. I can refer you to a debt consolidator (who help you negotiate pennies on the dollar with your creditors) and someone in credit repair. With all the foreclosures going on throughout the country (Money Magazine said foreclosures spiked 71% in the last quarter of '08), banks are being super cautious about making loans that could possibly foreclose in the future.

Hope this helps,
Terri Hayley
The Hayley Group, Keller Williams

Amanda, I'm sorry as it might seem harsh to you, but with a foreclosure last year and poor credit, you have nothing but time.....

Working on your credit is the best use of your time and maybe the only hope for getting another property in the next few years. Beware as there are those who will use your situation to make a profit for themselves with out actually assisting you in any meaningful way.

I do wish you luck, Dunes

Your foreclosure will remain on your credit record for at least 7 years. What makes you think that any lender would be willing to finance the purchase of another home when you were unableto meet your obligations regarding your previous one?