Hello all. I've been here many times reading all the information I could learn from. My story is quite long but maybe can help someone. Back in 2007 my business went south along with my marrage I closed the business and settled out of court with the ex wife and left me financially ruined. I gave my house back to the bank and filed for chapter 7 Bk and included the house in the bankruptcy. I read somewhere on here that a person was able to get a mortgage after the 2 year BK seasoning period with a house included in BK and forclosed on. I can personlly tell you that I had only one bank that was saying they could do a mortgage like that. They wanted me to fill out an app and pay them a 825 app fee. When I pressed the issue about the 2 or 3 year seasoning period, they finally said the underwriter made a mistake and I would have to wait for the 3 year mark from the date the title was transfered with the county clerk. Then I never heard from that bank again. I used the seasoning period to get my credit score above 700, saved almost 100k and was able to get a good job that pays almost 100k a year. I also started an ebay store that brings in about 65k per year. I found a house and did the FHA 3 1/2 % down, did a 6% sellers concession. I told them I could put more down but I never wanted to be in a situation where I could not pay the mortgage again, and wanted the most amount of reserves I could have. The bank understood my position and proceeded with my application. Even with all the extra resources, I had a really hard time with the UW and the head UW, and the senior operations UW because of my past. They put me through the ringer for almost 2 months asking me to prove funds over and over again, fax documents, and after letters from my accountant, and myself I finally got the clear to close. We closed this morning. I still cannot believe its over and I can finally start my life again. Anyone who went through what I did, use the time to work on your credit, and dont ever, ever make a late credit card payment or auto loan payment if humanlly possible while rebuilding for a mortgage. Hope this helps someone....steve
