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Darryl Said:

Can i get a mortgage after I have been discharged from my bankruptcy?

We Answered:

Yes you could, but you'll need a big deposit if you want one anytime soon. You can rebuild your credit rating over the next few years but you will be looking at a sub prime lender.

Brad Said:

Does anybody know who will finance me a for a mortgage loan after bankruptcy?

We Answered:

You have to really check the local telephone book, read many adds in the local newspapers and call many mortgage brokers/bankers. Looking in the local newspaper you would be looking for ads that read
These are individuals that would or might over look your current credit situation if you can make them understand why you did the bankruptcy.

When you call and talk to these mortgage brokers make sure you explain to them that you have recently had a bankruptcy and not find it out after they have ran your credit report. This would save them time as well as they would give you an answer immediately so that you might move on to the next mortgage broker on your list.

The other things you would be looking for in your local newspaper are ads such as these


#1. House for sale Owner will Carry

#2. House for sale Bankruptcy and foreclosures ok

#3. House for Sale no credit necessary

#4. House for sale rent to own or lease option to buy

Normally there is a 2 year wait with rebuilt credit before a lender will consider lending anyone money to purchase another house. Some might consider you for a mortgage loan after a year, but the norm is about 2-3 years.

Nothing ventured nothing gained

I hope this has been of some benefit to you, good luck.

"FIGHT ON"

Jay Said:

How long should it take to start receiving a monthly statement from your lender after reaffirming mortgage?

We Answered:

Call Wells Fargo and ask them.

Here is how it gets screwed up. Under the BK laws, once the lender is informed you have filed for bankruptcy, they are barred from even contacting you. That includes sending you a monthly bill.

So some lenders refuse to send out monthly bills (even after you reaffirm the loan) because of fear of violating the automatic stay laws.

So contact the bank and see if those bozo's are doing that.

Zachary Said:

mortgage after bankruptcy?

We Answered:

If it is only your mortgage that is unmanageable, then a short sale if the bank will allow it will get you out of your situation. Renting for 5 years is a good plan. At that point you may not quite be back to a good credit score, but you should at least have a decent credit score.