2007-01-09 11:31:30 · 10 answers · asked by annmo04 1 in Business & Finance ➔ Renting & Real Estate
i would call a mortgage broker and ask. be straightforward about your credit and financial situation. brokers run your credit only once, but can fish your profile out to lots of banks and lenders to find one willing to work with you.
otherwise, if you go bank by bank, applying for loans and getting turned down, you are losing another 3-4 points on your credit score each inquiry. lots of inquiries look very bad on your report.
2007-01-09 11:36:54 · answer #1 · answered by gabound75 5 · 0⤊ 0⤋
Has your bankruptcy been discharged? If you are still in it. You can not get any thing involving credit without approval thru the court.
If you are discharged and completed the process. Save your money for a down payment. A new loan will require at least 10%. And getting a new loan is very difficult.
There are companies that will lease to own a home to you. They want a down payment and you pay a higher payment than a normal loan. The lease is usually for a year or two and allowing you time to build your credit. The lease can be renewed with an additional down payment. All monies paid on this lease purchase goes towards the down payment for the total value of the house and that you have paid when getting a new loan.
There are also some owners who will sell it to you privately. They can be more accepting of your circumstances but not always. If there are more than one owner (wife and husband) and they decided to split. It can become a mess unless everything is in writing.
Make sure whatever kind of deal you find for yourself make sure that you go thru an attorney to protect your interests. Good luck.
2007-01-09 11:47:58 · answer #2 · answered by Miki M 3 · 0⤊ 0⤋
No assure on the expenses yet, they seem to drop accurate in the previous an election which will take position next November and the shape is often 2 years after a financial ruin. Now with that stated-you had more effective useful have realized the lesson of NO LATES or you'll nonetheless have an concern. each so often the financial ruin is a good ingredient it does sparkling the call and impulsively you've those who pick you to take credit all yet yet again fairly a lot accurate this second. attempt to resist! Make the lease funds on time or early! after all you attempt to cajole someone that you will be good! straightforward and to blame. It takes attempt to construct believe, imagine of each loan charge that you're making on time or early as an funding in you destiny! it really is proving that you'll be able to and also you've were given and also you may! One overdue kills the impression so do what it takes to construct the popularity and keep it there. it truly is going to experience good even as your credit is re-conventional and also you pop out of the fog that financial ruin might want to be, as new human beings!
2016-12-28 13:41:10 · answer #3 · answered by ? 3 · 0⤊ 0⤋
Never consider giving up just because you have a bankruptcy. What is much more important is what you are doing NOW. Keep yourself up to date and don't show that you are getting into the same cycle that got you into trouble the first time around and it will make a difference. Best advice is to find a reputable realator who can get you connected to a reputable mortgage broker. A mortgage broker will have a relevant conversation with you, run your numbers ONCE and apply it to the products that they have available to them in-house without applying a dozen inquiries to your credit. They can then walk you through what is available to you right now, and what steps you need to take over a given time period to achieve your goals. Best advise is DON'T NOT DO IT!! Get information from someone who is best able to provide it. When you have the information, take it back to the realtor and talk with them about how to best apply your situation to the market. Take the advise of informed professionals. Not someone giving you a one sentence reply.
2007-01-09 11:51:33 · answer #4 · answered by Marc M 2 · 0⤊ 0⤋
It is easy to buy a house if you have the money. The difficult part is getting a loan. It could help you to talk to a lender or two and ask them what steps you should take. Also, saving up a decent down payment would help.
2007-01-09 11:52:12 · answer #5 · answered by Peter 3 · 0⤊ 0⤋
Normally 24 months after discharge date. I have a great lender that can help in most cities. As a full time Realtor in St Louis if you need a local Realtor I have numerous contacts all over the country.
http://www.realestatetrio.com
2007-01-09 11:37:02 · answer #6 · answered by Frank H 2 · 0⤊ 0⤋
I'd give it a couple years, and make sure you pay everything else off on your credit report, and keep everything current. It will look like you're really stable. And after something like a bankrupcy happens, a mortgager will want atleast 12 months of utlities to show you've paid them all on time. So starting now, do your best :)
2007-01-09 11:41:14 · answer #7 · answered by Becky 3 · 0⤊ 0⤋
At least 3 years
2007-01-09 11:35:35 · answer #8 · answered by tchem75 5 · 0⤊ 0⤋
It took me at least a year, and I worked on my credit to improve it.
2007-01-09 11:35:25 · answer #9 · answered by Anonymous · 0⤊ 0⤋
You could try this website for information on this. They have a lot of different resources/information about loans.
http://loan.divinfo.com/
2007-01-09 13:41:59 · answer #10 · answered by Reenie 3 · 0⤊ 0⤋