Hey, i've been looking everywhere for some answers & i'm hoping someone here can help me? We recently filed chapter 7 ( because of being put on disability, everything got behind) Our discharge came thru this week, 7/25/07, & we are looking to buy a home. Not an expensive one, just a modest home for around $40-$45 thousand. We have been planing this since we started to file( It took a little while since I researched & did all the work myself, who can afford a lawyer when they are going bankrupt?) I found a couple loan companies who will offer us a loan ,but if anyone knows of any more specializing in 'high risk loans' please email me. anyway, 1 said I have to bring our credit score up to 620, but no down payment. The other 1 said a score of 520 but a 10-20% downpayment is needed.They are both around & 7-7.5% APR. How do I check my current credit score? When the discharge finally registers on our report, about how much does the score go down? The loan originator said to get a credit card & use it for something I have budgetted for anyway. Then ,in a lump sum, pay off all but $20. That is supposed to bring the score up. I applied for 1 & got turned down. Do I really want to apply for another when every time your report is pulled & you're denied your score goes down?I need a fresh start, but I do need a starting point. Part of the reason we had to file is because we had our credit cards "borrowed without permission' by someone we were letting stay with us. But we can't prove it, so as the saying goes 'we will learn from our mistakes' & not be so trusting this time. ppppppppppppllllleeeeaaaaaaaaaaaasssssseeeeeeeeee give me some well needed advice.
