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I have filed bankruptcy 12/29/06 and looking for a mortgage. My score is now a 687 and wife is 735. We have found a house that we really want but dont think it will last till December. Do you think we have a chance at financing. We also have 21K saved and the house is 230k. We plan on offering 215K.

Posted: Mon Sep 22, 2008 5:17 am Post subject:

Yes, you can definitely get a mortgage loan after filing bankruptcy. Since your wife has a credit score of 735 and you have a score of 687, I don't think that you will find it difficult to get a mortgage loan. This is because in addition to credit score, lenders also check your employment, salary and dti and so if these three factors are favorable, you can get a mortgage loan at affordable interest rates.

gmakerley · Posted: Tue Sep 23, 2008 1:18 pm Post subject:

the standard is 2 years post-discharge. you may be able to find someone willing to bend those standards, but it might be an institutional lender - one that holds its own mortgages and does not sell to the secondary market.

check with a local lender such as a credit union or community-based bank to see if they might have such discretion.

brian1 · Posted: Wed Sep 24, 2008 11:29 am Post subject:

If you qualify for a USDA loan there is no BK issue for scores above 620?
It is a long shot but may be worth looking into if you live in a less populated area

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