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Chapter 13 BK Discharge

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Contributor

Re: Chapter 13 BK Discharge

My lender is HomeServices Lending but they are through Wells Fargo.
Goal Score: 700 Across the Board











Message 11 of 14
Contributor

Re: Chapter 13 BK Discharge

Like your screen name.  I'll have to change mine to be more reflective 

Message 12 of 14
Established Member

Re: Chapter 13 BK Discharge

You should have no trouble getting an FHA loan, as long as you have no lates on anything since you filed for the bankruptcy.  You will want to find a lender who will manually underwrite, you'll need good debt ratios, and at least a couple month's payments in reserve.

 

Message 13 of 14
New Visitor

Re: Chapter 13 BK Discharge

I filed for chapter 13 in January 2011 and it was discharged April 2016. Nearly all of the debts I had were medical with only about $3000 in credit card debt and a default on my mortgage (which was because of unscrupulous behavior on the bank's part. I received a settlement as part of a class action lawsuit due to this.) Unfortunately I have had a medical emergency since then and now have another $2000 in unpaid medical debt on my credit report. I have no other debt besides my mortgage which I have paid on time for the last 5 years. I also have no other credit in my name. I'm wondering the best way to go about rebuilding credit so that I can refinance my home, since I am currently locked into the 7% interest rate I had when I bought my house. My credit score is currently only about 600 and since I am self-employed my income can be unpredictable. The good news is, I have grown a lot of equity in the house (it's worth about $150K more than what I owe). Does anybody have any advice on the best steps to take now? I'm scared to apply for credit cards because I know it knocks down your score every time you apply, and I don't want to bother if I'm just going to get denied.

Message 14 of 14