stressed first time buyer

[thrasher865]

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@Anonymous wrote:
THE SELLER GAVE US THE CLOSING COST (5K), it's there something tricky or it is a common process?, the ac wasn;t working and the seller fixed it and we have a sold as is contract, so i thing this is a good help

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Yikes, I don't mean to scare you, but I think nothing would be more stressful to a first time buyer than finding out something major soon after closing.  I know it's too late to renegotiate, but a home warranty would take a lot of that stress off.

[rockymtngrl]

The lender realizes that you will have negative accounts left on your credit report from the BK. All of those accounts should be marked iib. They will probably ask you to write a letter explaining why you filed bk and they will want all of your bk paperwork and they can check your credit report against your bk creditor matrix to be sure of what accounts were included if there is any question about that.

I guess I am not completely understanding what exactly your question is?

[Anonymous]

if he filed for bkcy, why the lender expect not to find a negative account, i don't get it

[rockymtngrl]

are the negative accounts before he filed for bk or after?

[Anonymous]

BEFORE, all these accounts are included in bkcy, that's why we feel bad they are not going to be removed for a while and lo know that