Posted on: 08th Oct, 2010 09:23 pm
MY BETTER HALF HAD TO FILE CHAPTER 7 OVER TWO YEARS AGO DUE TO A BAD DIVORCE AND A FORCLOSURE FOLLOWED AS HIS EX REALLY TRIED TO PUT THE CABASH ON HIS CREDIT AND SINK IT.
AFTER TWO DEATHS IN THE FAMILY WE ARE NOW TRYING TO RELOCATE CLOSER TO WHAT IS LEFT OF IT AND GET SITUATED ON THE EAST COAST.
WHO WILL TALK TO US ABOUT WHAT WE NEED TO DO IN ORDER TO QUALIFY FOR A HOUSE IN THE 120K WITH HIS SCORE BEING 717-728-660, REGULAR INCOME OF ABOUT 4K AND DEBT FREE.HOW MUCH DOWN WOULD WE NEED TO MAKE OUR MOVE A REALITY?
THANKS SO MUCH FOR ANY ADVISE :)
AFTER TWO DEATHS IN THE FAMILY WE ARE NOW TRYING TO RELOCATE CLOSER TO WHAT IS LEFT OF IT AND GET SITUATED ON THE EAST COAST.
WHO WILL TALK TO US ABOUT WHAT WE NEED TO DO IN ORDER TO QUALIFY FOR A HOUSE IN THE 120K WITH HIS SCORE BEING 717-728-660, REGULAR INCOME OF ABOUT 4K AND DEBT FREE.HOW MUCH DOWN WOULD WE NEED TO MAKE OUR MOVE A REALITY?
THANKS SO MUCH FOR ANY ADVISE :)
Hi angelgirl,
If you and your husband want to take out a mortgage, then you'll have to offer a down payment of 20%. With the credit score that your husband has, he will be able to qualify for a conventional loan. However, as your husband's bankruptcy filing is 2 years old, it'll be difficult for him to qualify for a conventional loan. Your husband will have to go for a FHA loan. These loans are available at a down payment of 3.5% - 5%.
If you and your husband want to take out a mortgage, then you'll have to offer a down payment of 20%. With the credit score that your husband has, he will be able to qualify for a conventional loan. However, as your husband's bankruptcy filing is 2 years old, it'll be difficult for him to qualify for a conventional loan. Your husband will have to go for a FHA loan. These loans are available at a down payment of 3.5% - 5%.
here is another cabash as i was just informed that there is a forclosure on his credit report due to the ex not allowing him to sell the house when he asked for it in court and not paying the mortgage as was ordered by the court either.
so does the same still apply or does it change things?
thanks so much
so does the same still apply or does it change things?
thanks so much