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I had a chapter 7 bankruptcy in oct 2005 because I started a business in NYC
6 months before 9-11.

I now am employed and make a good salery and my credit is now quite good.
How do I go about finiding a mortgage broker (or Bank) who specializes in working with people or who could helping to find lenders willing to work with my situation.

I am in the NYC / Central NJ area

thxs!
Tippy

jerry · Posted: Tue Jun 15, 2010 2:12 am Post subject:

Hi Tippy,

As more than 4 years have passed since you filed Chapter 7 bankruptcy, I don't think you would face issues in getting a mortgage provided you meet the required criteria of the lender. You should contact the local lenders of your area and apply for mortgage. You should have a credit score of 700-720 in order to get a conventional loan. The lender will judge your financial situation and let you know whether or not you would get a loan.

This community has a large number of lenders. You can seek a no obligation free mortgage quotes from them. This will give you an idea as to what type of mortgage rates and terms you would qualify for.

Thanks,

Jerry

netherton · Posted: Thu Jun 17, 2010 11:49 am Post subject:

Tippy-

You really shouldn't have to search specifically for lenders specializing in post BK financing as the majority of lenders have dealt with it from time to time and is really no big deal. As long as you have re-established your credit and paid everything on time the last couple of years you should be fine.

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