Bankruptcy and Charge off -Chances of getting a mortgage ?

[Anonymous]

Over the past year I have worked tremendously hard to repair my credit after being denied a mortgage loan.  I want to try again this fall to apply for a Mortgage.  My rental home is up in November.

I’ve been able to delete 6 negative accounts including collections and a charge off from First Premier Bank.  

  With that being said, I had filed bankruptcy in 2008 due to unforeseen circumstances.

I have a Charge-off through HSBC credit card,  that I have no recollection of ever having opened in 4/2011 and DOFD 6/2011..  it was sold to another collection agency Called Cavalry portfolio 1/20/12 -Which I paid them last year in full not knowing my rights or options as a consumer.

   So what I have on my CRA is the HSBC Charge -off from 2011 ( zero balance) and of course the bankruptcy from 08.

That’s it..

All other accounts are in good standing, never late or missed payments on anything.

My FICO Mortgage scores now are:

FICO 5- 629

FICO 4- 671

FICO 2- 668

I have done everything I can imagine to try and get that Charge- off removed with no luck ..

My question is, is a mortgage underwriter going to deny my because of the Charge off post bankruptcy, or do I have a chance ?   

[srloring13]

If the charge-off is reflecting as zero, and no other negatives since your BK, I dont think you will have too much trouble.  But be prepared to write a letter of explanation for the bankruptcy and charge-offs.  In addition the underwriter might want proof of payment from the collection agency and copies of any correspondence related to the charge-off/collection.