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BK not on credit reports, do they check other databases before getting a loan

Valued Member

BK not on credit reports, do they check other databases before getting a loan

I am interested in getting a home loan. I have a 680 FICO and they will hit over 700+ next month.

 

I did have a BK in 2009 but it was cleared from my credit reports. When I go to apply for a loan are they going to check this out in other ways or do they go off only the credit report?  

 

Thanks ahead


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Moderator

Re: BK not on credit reports, do they check other databases before getting a loan

It is public record.

It is on PACER for any and all to see.

 

Also you have to list your BK on your mortgage application, it is one of the specific questions asked. Look up a 1003 mortgage app and you will see. That is the app form everyone uses. You don't want to forget to mention it as it is considered mortgage fraud.

 

Don't worry, its already been quite a while since the BK so if you have established your credit since your discharge, then it won't be an issue.

Message 2 of 5
Valued Contributor

Re: BK not on credit reports, do they check other databases before getting a loan

+1000 Disclose the BK. it won't hurt you if you have reestablished since. I had to disclose 2 BKs, a 7 and a 13, filed in 2003 and 2005. Only the 7 remains and will delete in Aug after 10 years. Question: how did a 7 disappear from your CRs before 2019??? I have never heard of such a thing. Anyways, you need to disclose it per the law. Anyone can view your records on Pacer. I had to provide filing and discharge paperwork and also write an LOE. I ran into absolutely no issues.
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Message 3 of 5
Valued Member

Re: BK not on credit reports, do they check other databases before getting a loan

Excellent advice. I wasnt sure if they would specifically ask that but will give them everything they need. 


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Message 4 of 5
Super Contributor

Re: BK not on credit reports, do they check other databases before getting a loan


johnnypinaz wrote:

I am interested in getting a home loan. I have a 680 FICO and they will hit over 700+ next month.

 

I did have a BK in 2009 but it was cleared from my credit reports. When I go to apply for a loan are they going to check this out in other ways or do they go off only the credit report?  

 

Thanks ahead


 

 

it doesnt matter if it isnt on the reports or not.... you must declare the bk on the initial application..... not doing so would be Mortgage Fraud => A Federal Crime!!!!!

 

 

 

Retired Lender
Message 5 of 5