Posted on: 30th Oct, 2012 02:22 am
I filed chapter 7 and got a discharge from it on 09/02/09. I didn’t know I had to reaffirm my house debt so I didn’t....but never foreclosed, etc. I’ve paid on time monthly. Credit score around 659. Had two late payments after bankruptcy. Everything else has been paid on time monthly. Got a prequal, but wasn't sure if I would get final approval...what are my chances? Any ideas?
Hi Dance,
It would have better if you would have surrendered the property to the lender and asked him to sell off the property, This would have helped you to get rid of the property. Now that you have the property in your name, it may be difficult for you to qualify for another loan. The new lender may ask you to sell off the property before you take out another loan.
Take care
It would have better if you would have surrendered the property to the lender and asked him to sell off the property, This would have helped you to get rid of the property. Now that you have the property in your name, it may be difficult for you to qualify for another loan. The new lender may ask you to sell off the property before you take out another loan.
Take care
Hi Dance,
I agree with what Sara has said. If you could have get rid of the property in the last 3 years it would have been easier for you to qualify for the loan. Nevertheless, you should speak to the lender and try to get his opinion in this regard.
Thanks
I agree with what Sara has said. If you could have get rid of the property in the last 3 years it would have been easier for you to qualify for the loan. Nevertheless, you should speak to the lender and try to get his opinion in this regard.
Thanks