Refinancing Home Mortgage
In: Mortgage Lenders
26 Apr 2010We are currently renting our home and hope to buy it in about 2 years. The owner is aware of our plans and has been very nice in working with us. Bankruptcy was just discharged and the foreclosure has just passed the “court date” stage, wheras the court allowed the lender to take the property.
This is about mortgage information questions.
5 Responses to When can a person qualify for a mortgage after they’ve had a bankruptcy discharge and a foreclosure?
tractorboy59
April 26th, 2010 at 2:24 pm
some lender will let you buy now but at a high rate
rlloydevans
April 26th, 2010 at 3:05 pm
Some lenders will consider you if you’ve started to re-establish credit after 12 months following the foreclosure and bankruptcy are legally finalized and recorded. However the rates will always be incredibly high at this point. The rates will start to become more reasonable after about 36 months after they are recorded.
bundysmom
April 26th, 2010 at 3:45 pm
Federal law prohibits anyone who has filed bankruptcy from buying a home for 2 years. Your bankruptcy attorney told you this…they HAVE to. After the 2 years you have to qualify for a mortgage like everyone else.
Succes
April 26th, 2010 at 4:00 pm
Filing bankruptcy and purchasing a home today are not mutually exclusive events. Both traditional and online lenders offer a good interest rate and payments that you can easily pay. If you have filed Chapter 11 or Chapter 7 bankruptcy and are not sure whether you can get a home loan, talk to a lender immediately who deals exclusively in offering mortgages after bankruptcy. Interest rates today are at the lowest than they have been in decades.
linda w
April 26th, 2010 at 4:54 pm
May be I Can Help You:
Just try:
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http://www.topamericanmortgage.com/
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