Steadily Progressing toward 700

[CWESTL]

Thanks to this amazing forum I'm continuing to see a steady climb in my FICO scores. I've been gardening for almost a year. I'm currently in talks with a mortgage lender in hopes of being approved for a mortgage one day post my two year discharge anniversary. 

[pizza1]

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@CWESTL wrote:

Thanks to this amazing forum I'm continuing to see a steady climb in my FICO scores. I've been gardening for almost a year. I'm currently in talks with a mortgage lender in hopes to be approved for a mortgage one day post my two year discharge anniversary. 

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Thats great!!  Keep up the good work! 

[morgacj2004]

Congrats!!  you are way ahead of the curve. I am at 33 months post BK and have similar scores and hx.

[CWESTL]

Thank you so much. Close to my initial FICO score goal, but not there quite yet. I'm certainly happy with the progress and owe so much to the many testimonies provided within this forum. I am just extremely hopeful all goes well with the mortgage approval for the property I have under contract. Filing bankruptcy was a very difficult decision, but the right decision for me. I've totally changed my perspective on money, credit, and wealth building. This change has allowed me to live a less burdened life with a pathway toward financial security for the future. 

[Anonymous]

I have a buring question. Do you have to WAIT 2 years after your BK has been discharged in order to get a mortgage? I anticipate mine next year, but wanted to wait until it falls off in 2018 to apply.

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@pizza1 wrote:

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@CWESTL wrote:

Thanks to this amazing forum I'm continuing to see a steady climb in my FICO scores. I've been gardening for almost a year. I'm currently in talks with a mortgage lender in hopes to be approved for a mortgage one day post my two year discharge anniversary. 

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Thats great!!  Keep up the good work! 

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[CWESTL]

How soon one can be approved for a mortgage post bankruptcy discharge depends on an individual's circumstances.  .  . 

1. FHA vs Conventional

2. Foreclosures, etc. 

3. DTI, financial hardship (i.e. lose of employment, etc.)

4. Etc., etc. etc.

[Scupra]

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@CWESTL wrote:

Thanks to this amazing forum I'm continuing to see a steady climb in my FICO scores. I've been gardening for almost a year. I'm currently in talks with a mortgage lender in hopes of being approved for a mortgage one day post my two year discharge anniversary. 

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Congrats!! Keep up your hard work, it will all pay off when you are approved for the mortgage

[CWESTL]

Update.  .  . The mortgage broker pulled my credit report yesterday and we were both pleasantly surprised that my mortgage weighted middle score was 738!!!! Everything looks good except my DTI ratio due to the mortgage payment on the home I currently have leased. This year will be the first complete year of earning rental income on this property. Thus the rental income earned this year won't be reported until I file my 2015 tax return. We're working on this issue. I'll update you as more progress is made. 

[CWESTL]

A mortgage inquiry reported to my credit reports. I was very surprised my Experian FICO score actually INCREASED by 9 points (684 to 693) and Equifax FICO score INCREASED by 5 points (691 to 696). Inching closer to 700.  .  .