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My wife and I are planning to buy a house but my credit is completely messed up. She has a good credit though. Doing my losses in business, I lost my house, cars, etc. and had to file Bankruptcy. I have a judgment against me that went away because of the paperwork filed from bankruptcy. The only thing hurting me is the judgment. I haven't heard from NCO since the BK and I never made a BK payment. This was back in 2007 and I know the SOL isn't quite up yet. I know the debt was mine but what do I do now so we could possibly get a house? Would writing a letter explaining my situation to the title company be a good option? We want to buy this house somehow. Please help!!

jerry · Posted: Tue Jan 17, 2012 1:51 am Post subject:

Hi John,

If it is difficult for you to qualify for the mortgage jointly, you can ask your wife to apply for the mortgage on her own. As she has a good credit, she will be able to qualify for the mortgage easily. You should ask her to contact the local lenders and apply for a pre-approval of the loan.

Thanks,

Jerry

jameshogg · Posted: Wed Jan 18, 2012 10:23 pm Post subject:

Hi John,

Though around 3 years are over since your bankruptcy discharge, it will be quite difficult for you to qualify for a mortgage with a bad credit. In today's market, lenders don't give mortgages to borrowers with bad credit. You should follow Jerry's advice and let your wife get a mortgage for the property.

Thanks

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