Hi, my bankruptcy got discharged in June 2011. I am working a full time job as an RN making 80000 a year. Need to know best option to get a home loan?
Need to know the best time to try to get a home and what kinds of rates would I be looking at since I had to file bankruptcy. I filed bankruptcy due to having some negative debt on my credit that my brother had put on my credit without me knowing. Then he passed away, so my only option was bankruptcy. Just need help deciding when to try to buy a home. Thanks.
(0) | asked by: Jessica Casey | share | 66 months ago | Report
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Hey Jessica. If you had a chapter 7 bankruptcy, you will need more time since the discharge. If it was a chapter 13, you can provide proof from the trustee that you paid it on time, and have 3 other items paid as agreed for the last 12 months such as rent, utilities, and new accounts on credit, you may be able to get an FHA loan. An important thing to do is check your credit to make sure all items are reporting correct: Any accounts included in the bankruptcy should say that and show a zero balance, the bankruptcy should say discharged and the date, and keep your credit card balances under 10% of the credit limits. You can order your credit for free at annualcreditreport. It is very important to reestablish credit after a bankruptcy and credit cards would be the best way as long as you just charge $30 or so each month and pay them off when you get each bill. I hope this helps.
I was a licensed mortgage lender for 7 years, it depends on what type of bankruptcy you filed, which will determine how long it will be before you can buy again with financing, give me a call or email and we can discuss further. Cordially, Joshua Whitley Alamance County Realty 336-263-4408 ph
I work with lots of lenders that would be able to advise you in purchasing. Feel free to contact me at your earliest convenience by email or phone @ 336.263.9996 Sarah Kindley, Realtor/Broker at Coldwell Banker Triad Realtors.
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