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Mortgage after CH7

Valued Member

Mortgage after CH7

My Ch7 was discharged last month. I have a good income and credit is now perfect with the exception of the BK. FHA won't look at me for two years. Banks and CUs want 4 years. Does anyone have any advice to offer on how to possibly get a mortgage loan? Right now I'm talking with a bank about some foreclosures they have. They say it's "possible". Really want out of this apartment. Any ideas?

Message 1 of 3
Established Contributor

Re: Mortgage after CH7

Read the new FHA "Back to Work" guidelines.  You can buy in a year if you fit them.


Patience though, or you'll wind up hosed... stay in the apartment for at least a year... you'll need 3.5%-20% to put down anyway + closing costs.



I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of Late January 2016 All 700+. Last CR pull from a lender(housing) was mid-score 749.
Goal Score: 700+ - reached.
Message 2 of 3
Valued Member

Re: Mortgage after CH7

Awesome. Thank you. 

Message 3 of 3