Photo by Stephen Lam/San Francisco Chronicle/Corbis
But here are ways to help a comeback:
- Work at a steady job.
- Build up at least six months of savings to show you could pay your mortgage if you lost your job.
- Don't max out credit cards.
- Pay your bills on time.
Fannie Mae, the mortgage giant, generally allows new loan applications in three years if a foreclosure was due to job loss, divorce or unexpected medical bills.
You may also like: Take AARP's savings challenge. >>