Find a property where the current owner is willing to either carry back a purchase money mortgage for you, or sell on land contract until you reestablish enough credit for a bank loan. This might require a cash down payment of anywhere between 10-20 percent, but in a buyer's market, which this is, anything is possible. .
*** Please click on a 3,4,or 5 rating so that I will be compensated. If you need clarification or additional information, clicking on number 1 or 2 is not necessary. Just click on Reply and ask for further information or explanation without rating the answer. BONUSES for quick and helpful responses are very appreciated. This answer does not create an attorney client relationship. Please be sure to consult a local attorney to verify the accuracy of this answer according to your state's laws.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).