Posted on: 18th Jun, 2009 12:18 pm
My husband and I filed bankruptcy after he was unemployed for almost a year, and he is now steadily employed and we have found a house that the seller will do a 2 year lease purchase. we are concerned about getting a mortgage on the house at the end of the 2 years, becuase of the bankruptcy. the selling price of the house is $144,900. We will get a $300 credit each month giving us $7200 towards a down payment at the end of 2 years and we plan to have an addition $7000, totaling $14,200. IF we rebuild our credit over the next 18 monthes will we be able to start looking for a loan then? will having the lease purchase help our situation vs looking for a house in 2 years?
Hope you can help!
Vaughnlula
Hope you can help!
Vaughnlula
I want to know what I have to do in order to qualify for my second home loan. I bought myn first home through NACA,but sold it after getting married. Unfortunately that did not last. How do I get started.
Hi Richard!
Welcome to forums!
I guess you have paid off your first loan in full after you sold off your property. In that case, you do not have any obligation towards that loan. Thus, you would be able to qualify for a new loan for purchasing a new property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I guess you have paid off your first loan in full after you sold off your property. In that case, you do not have any obligation towards that loan. Thus, you would be able to qualify for a new loan for purchasing a new property.
Feel free to ask if you've further queries.
Sussane