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Valued Member
jcknight007
Posts: 49
Registered: ‎12-20-2008

Mortgage after CH7

My Ch7 was discharged last month. I have a good income and credit is now perfect with the exception of the BK. FHA won't look at me for two years. Banks and CUs want 4 years. Does anyone have any advice to offer on how to possibly get a mortgage loan? Right now I'm talking with a bank about some foreclosures they have. They say it's "possible". Really want out of this apartment. Any ideas?

Established Contributor
SoulMaster
Posts: 976
Registered: ‎11-08-2011

Re: Mortgage after CH7

Read the new FHA "Back to Work" guidelines.  You can buy in a year if you fit them.

 

Patience though, or you'll wind up hosed... stay in the apartment for at least a year... you'll need 3.5%-20% to put down anyway + closing costs.

 

-SM

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of 8/2/13: EX 710, EQ 691, TU 709, all 3 LP for a Mortgage (TriMerge Report)
Goal Score: 700+ FICO across the board w/ my BK still on there (until 8/2020) - I think they're all already there... haven't had a bank pull a trimerge in quite a while.
Valued Member
jcknight007
Posts: 49
Registered: ‎12-20-2008

Re: Mortgage after CH7

Awesome. Thank you. 


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