would like to hear from people that have done it
2007-10-08 19:10:32 · 4 answers · asked by tnt 2 in Business & Finance ➔ Credit
with FHA you will need to wait a minimum of 2yrs after chapter 7 and foreclosure.
you will also need to have reestablished credit....and NO CREDIT LATES IN THE LAST 12MONTHS.
rates for 30yr fixed are aroune 7% or lower.
depending on the loan amount
2007-10-09 04:55:37 · answer #1 · answered by Anonymous · 0⤊ 0⤋
That would be really tough at this time with the housing market going downhill really really fast. That's how alot of lenders are going down the tubes as we speak. They were really lenient with the credit approvals and now a whole bunch of people are losing their homes and the mortgage lenders are losing money. At this time, with a foreclosure and bankruptcy on your record, I doubt very highly that anyone would even consider that risk.
If you end up getting one, more than likely, you will be charged ridiculous amounts of interests. If you can afford that, more power to you! But just be careful, you should know from experience now, how overwhelming a mortgage is and the responsibilities that come with it.
2007-10-08 19:21:51 · answer #2 · answered by HotNurse71 4 · 0⤊ 0⤋
probably the ONLY bank that will loan to you after that experience is the First National Bank of DAD. Hope your father has the money.
2007-10-08 19:13:59 · answer #3 · answered by Mike 7 · 0⤊ 1⤋
FOR CHAPTER 7 UNFORTUNATELY YOU HAVE TO WAIT 7 YEARS , OTHER THAN CAR DEALERSHIPS THEY WOULD NEVER APPROVE WITHOUT A COSIGNER THAT HAS GOOD CREDIT.
2007-10-08 19:13:47 · answer #4 · answered by jack jack 7 · 0⤊ 0⤋
as far as i know there's none bcoz of bankruptcy all banks w'd reject ur loan.
2007-10-08 19:16:15 · answer #5 · answered by robert KS LEE. 6 · 0⤊ 0⤋