Can you get a foreclosure loan with bad credit?

Many people mistakenly believe that since they have bad credit, they will not be able to qualify for a foreclosure loan. In most cases, you will still be able to qualify for the loan that you need. Lenders of this type of loan know that you will most likely have bad credit if you are on the verge of foreclosure. If you are getting ready to have your house foreclosed on, you have already missed several mortgage payments. Every time that you miss a mortgage payment, the mortgage lender reports it to the credit bureaus, and it negatively affects your credit score.