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cwalker27 · Joined: 13 May 2009 Posts: 1 1.41 Dollars($)

My husband and I would like to know if we clean up our credit, ie pay off everything negative our credit reports how long do we have to wait to get a mortgage?? We have a bankrupcy that was discharged 3 years ago, we were doing okay and then he got hurt and waws out of work quite awhile and the bills piled up, and I got some of those bad credit cards with a $300 limit to try to help out and ended up not being able to keep up on the payments, so they are on there, the only good credit we have is our car loan, which we are halfway through a 5 year loan. I am getting a lump sum of 11,000 in 2 weeks and plan on paying off or settling on everything on our reports about $2,500 worth of debt, we have been told with our income and our debt to income we would qualify for a $210,000 mortgage, we found the perfect house and the sellers are willing to let us rent to own but we need to know how long untill we can get a mortgage. they dont want to rent forever.

SSPINGARN · Posted: Wed May 13, 2009 7:06 am Post subject:

the problem is you went late after a bk but with a good explination letter you shouild be able to get an fha loan

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How long until I can get a mortgage?