Does anyone know where i can get a mortgage after bankruptcy?
Answer:
615 mid score 6 months out of BK should be no problem. Heck I can do a loan 1 day out of BK. Where do you live (different rules in different places)? Making mortgage payments on time is one of the fastest ways to raise your credit score, I would recommend doing this ASAP if you are serious about it. I have done loans for people off of Yahoo Answers before and am more than willing to look into your situation if you'd like. Feel free to email me with any specific questions or scenarios.
Edit: ATTN Tunter: I challenge you to show me a program for people with credit scores of less than 500. Please do not lie, especially in a forum such as this where people come for legit advice. You know as well as I do that these programs do not exist. Stinging clients along with false advertisements will not build your business. We work in a referral business and as such we should also way take a back seat to our clients.
Yeah you need to build up your credit first.Then you have to talk to some one like me a mortgage consultant to Set up an appointment 615 is still low are are at least going to need a 650 to get a loan.
If it's been discharged go for it.
Need a bit more information. Is the BK discharged? How long since it's been discharged? Your FICO can be as low as 580 and still get a decent rate (lower score will just receive a higher rate). Your local mortgage broker should be able to help further.
Here are a couple of options, which I've listed under Sources. The first is a standard service ("when banks compete, you win") that will let you fill out one form and get several competitive quotes from lenders if you qualify. No cost for this one. The second is a similar service that has more of a slant toward sub-par credit scores. Also no cost and no obligation. They will try to find lenders who will work with you. Good luck!
I have done loans for people one day out of bankruptcy AND foreclosure and their score was only a 580.
Yours is certainly do-able. You won't find these types of loans by walking into your local bank, you'll want to work with a mortgage broker with access to several programs.
Email me if you need any advice.
Looks like you're getting a lot of responses from people saying they're in the mortgage industry, with a lot of vaired responses as to how you can go about doing this. It's really very simple. I too am in the mortgage industry, I've been a Senior Loan Officer for about 5 years now, and specialize in dealing with people with credit problems. We can do pretty much anything, especially when it comes to credit repair! With a 615 score, especially right now can get a great program. The rates are down right now and most lenders are doing a lot of discounted rates on top of that! Your score can be below a 500 and you can still qualify for a loan, without getting an insanely high rate! This is an e-mail of mine as well if you want to talk about some options.
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