Posted on: 23rd Sep, 2008 10:34 am
We were foreclosed on due to the adjustible interest rate on our loan. We moved out as soon as we knew they were not willlng to work with us and have rented a house for a year. We filed a chapter 7 due to the 2nd mortgage still coming after us for the money due to them no longer being secured. We know only have 2 car payments and our rent. I am wondering if we can buy now or will we have to wait? With the lower house prices we can afford it, but what kind of interest rates are we looking at? Thanks!!
Oh dates, we filed Bk this year and it closed 2 months ago and the foreclosure happened last year but I dont think they actually filed the paperwork till Jan of this year. Also my husbands credit score is still 628 after all this
Oh dates, we filed Bk this year and it closed 2 months ago and the foreclosure happened last year but I dont think they actually filed the paperwork till Jan of this year. Also my husbands credit score is still 628 after all this
scrapbook...please review my response using this link:
http://www.mortgagefit.com/know-how/about13960.html
http://www.mortgagefit.com/know-how/about13960.html
Hi scrapbookindiva!
If you are planning to get a FHA loan and that too at a better rate, you will have to wait for 2 years. In case you want to get a conventional loan, then you will have to wait for 4 years. You can also refer to an earlier discussion on mortgage after bankruptcy for further details.
Thanks,
Jerry
If you are planning to get a FHA loan and that too at a better rate, you will have to wait for 2 years. In case you want to get a conventional loan, then you will have to wait for 4 years. You can also refer to an earlier discussion on mortgage after bankruptcy for further details.
Thanks,
Jerry
