OK, so now what. I'm sure you have questions, please feel free to ask. Many people have "heard I can't buy a home unless I", now I'm sure you all have well-meaning friends and family, and sometimes their advice is accurate and sometimes it is based on old information. Things change in real estate all the time and what may have been true last month, may not be the case anymore. For example, many buyers had to close on their loans before July 31st due to new regulations on lenders. So, what was true for them on July 31st, was no longer true on August 1st. Your best source of information is your realtor or lender.
There are special circumstances for many people and they think that they will never be able to buy a home, while this willl be true for some, some people have been told they cannot buy home who actually can due to a change in time or circumstances. Previous foreclosure, bankruptcy, bad credit, divorce, no downpayment are all areas of concern and each person's circumstances will be different so it is even more important for people in these situations to get competent help. If you have questions, this is a great forum to ask the pro's.
That all being said, not every lender has every mortgage product and not every realtor is aware of what products a lender can offer. Some lenders cannot do sub-prime loans any longer and some lenders can help with government programs while others cannot. In order to get accurate information, you need a professional realtor, not your best friend from high school, unless they happen to be a Full Time Realtor. Only full-time realtors know all the ins and outs of real estate. This is a constantly changing, evolving market and only a professional realtor has the skills and knowledge to answer your questions accurately.
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