Posted on: 30th May, 2009 12:35 pm
I just wondered I have never paid a bill late since my foreclosure/bankruptcy(05) I have a good amount of money saved for a downpayment and a steady job.. I've been house shopping what are the chances of being able to get a home mortgage?
hi guest,
what type of bankruptcy did you file? if you filed for chapter 13 bankruptcy, you can get a fha loan 1 year after your bankruptcy discharge. for conventional loans, you need to wait for 2 years. in case of chapter 7 bankruptcy, you should wait for 2 years after discharge to get a fha loan and 4 years after discharge to get a conventional loan.
in my opinion, you should start shopping for loans and check out what type of rates and terms you're receiving. this community also has a large number of lenders. you can speak to them and seek a no obligation free mortgage consultation from them. this will let you know whether or not you qualify for a loan.
thanks
what type of bankruptcy did you file? if you filed for chapter 13 bankruptcy, you can get a fha loan 1 year after your bankruptcy discharge. for conventional loans, you need to wait for 2 years. in case of chapter 7 bankruptcy, you should wait for 2 years after discharge to get a fha loan and 4 years after discharge to get a conventional loan.
in my opinion, you should start shopping for loans and check out what type of rates and terms you're receiving. this community also has a large number of lenders. you can speak to them and seek a no obligation free mortgage consultation from them. this will let you know whether or not you qualify for a loan.
thanks