Posted on: 26th Jan, 2010 08:16 am
We filed bankruptcy 8 years ago exactly. It is still showing up at the bottom of our credit report under the "records" section. Our score has raised though to over 700 and we have no delinquencies and very little debt now. How will the bankruptcy effect our getting a mortgage loan now?
it really ought to have no impact on your current situation. obviously, your bankruptcy was a way in which you were able to restructure your financial lives for the better. you are to be applauded for using the interim period to boost your scores as well as keep your other indebtedness to a minimum.
lenders won't exactly fall all over themselves, other than the clumsy few (several) that are out there, but they'll be happy to help you. obviously, also, your income and assets and job situations will be factors in determining if you'll qualify, but you certainly won't encounter any credit difficulty.
lenders won't exactly fall all over themselves, other than the clumsy few (several) that are out there, but they'll be happy to help you. obviously, also, your income and assets and job situations will be factors in determining if you'll qualify, but you certainly won't encounter any credit difficulty.