Posted on: 16th Oct, 2010 08:10 pm
We have been discharged from chpt. 7 for 2yrs. 7 mths. My husband has been with same co. For almost 3 yrs. Was laid off 7 months out of that time and they called him back when work picked up. He's been back now for 4 months. We haven't established any new credit but we have 2 sources that we have been paying on for yrs. That was allowed to stay with us through chpt.7. Our credit score is 660 now. All of our debt 17,000 will be wiped out if we sell current home. We would like to take advantage of getting a newer home while home prices are down if possible. Would we qualify for a loan? If so, could you suggest something with low down pymt?
As 2 years have passed since your bankruptcy filing was discharged, you'll be able to apply for a FHA loan to buy a new property of your own. Moreover, as you've a credit score of 660, it'll help you in getting a mortgage.