Hemet is a “best kept secret” for affordable housing, and many people may not realize what is available for just a little more of a drive past Temecula Wine Country. With the housing market the way it is, and the prices of housing at the lowest they have been in 10 years, but housing prices are on the rise. Interest rates are the lowest they have been in a generation, and as the housing becomes less available, interest rates and prices are bound to go up.
What if you filed a bankruptcy and now you want to buy? I get calls all the time from clients who filed bankruptcy two years ago, three years ago and now after a bankruptcy in Hemet, they’re ready to buy a house. Usually two to three years after a bankruptcy, you can be in a position creditwise to buy another house. Foreclosures take four to five years to rehabilitate your credit enough to buy another house.
Take advantage now of the current market low. But what if you’re still in debt? You lost a house and a car and the banks are still coming for you. You’ll need a bankruptcy attorney so you can file your bankruptcy right now. Don’t hesitate, your credit’s not going to get any better on its own and it won’t get better if you can’t pay it. But a bankruptcy will give you a court order which is a permanent injunction prohibiting collections called a discharge order. From the time of that court order, your credit starts getting better on its own. I’ve been a bankruptcy attorney serving Hemet for several years now. Call me 951-200-3613.
Approximately two years from now, the housing market will most likely still be at a buy point. Naturally the recovery should be on its way by then, however, you never know, things might take that double dip recession like in 1933 and give you a secondary buy point in two more years.