Buy a home under an LLC after foreclosure
Hello forum,
So I think this is my last shot before relegating myself to renting for another two years. So I had an FHA loan foreclosed on 11 months ago after a long drawn out process. The question I have is since I cannot get approved for a loan for at least two more years, would it be possible to create an LLC to purchase a property?
Details:
Home Price: $175,000
Down Payment: $45,000
Credit Scores: 730 and 690 (Surprising with the foreclosure)
Annual Combined Income: $118k
I know with an LLC with no credit history that they would require me to co-sign or put a personal guarantee but I did not know if this could be a work around with having the foreclosure. Any thoughts would be greatly appreciated and I can answer any other questions if anyone needs anymore information. Thank you!