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Hi All -
I am new to this board, and my top priority is getting a mortgage. My BK was discharged in 07/2012, so I'm 14 months past BK. I know that I won't qualify for almost another year, but I was curious how many people were actually able to get a mortgage 2 years after BK? If you were, who was the lender? I have reestablished my credit since my discharge and all of my scores are between 660-700. I have 5 credit cards post-bk, all of which I pay in full every month. I have student loans that have never been late. My car is paid off, so no car payment. So, DTI wise, I'm good. I just wonder if I will still encounter any problems next year when I get ready to apply? Thanks.
Yay! Congratulations!! Would you mind explaining what is currently on your credit report? Did you encounter any problems getting the mortgage? This is great news!
I just closed - I am however 4 years post discharge. My home that I included in the bankruptcy didn't foreclose until 04/2010, so I had to wait 3 years from that date. We went FHA and I didn't have any issues. I did however still have to provide a letter of explanation for the bankruptcy and the foreclosure. Was just a formality though.
You should be fine.
Awesome! Congrats to you guys! I feel better already! :-)
I have a new car loan and 2 credit cards with limits one at $1500 and the other one $2500. No late payments since discharge (this is very important). I also had to write a letter of explanation on why I file BK7. After that it was the normal loan processing qualifications that I had to follow.
I got mine, applied a month after the two year period. I used a mortgage broker in Ohio that found me a great bank that didnt make any sort of deal at all about the BK.