MacyJ
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 Posted: Sun Nov 08, 2009 6:11 am Post subject: What are my chances of getting a loan? |
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My husband and I filed BK 13 10/07 because he became disabled and couldn't work.
My son was diagnosed with cancer in May of this year, and I had to stop working and therefore I couldn't pay the monthly BK payments, and the BK was discharged for non payment last month.
My son is doing well right now, so I will be returning to work next month and my husband FINALLY got approved for social security this week after 3 years waiting.
We've been legally separated since earlier this year, and I'd like to buy a home since I will have a large amount for a downpayment from my share of the back social security due, and I will be working with the creditors from the BK to pay them off. My part of the BK was minimal, and I only have a few credit cards, one vehicle we were paying on, and some medical debt. The total not including the vehicle is less than $3,000 (most things were from him that he racked up prior to getting married).
I was wanting to try for a foreclosed home since the prices are lower, so I was looking at about $60-70K with a down payment around $20k. I make decent money, and make about $45k/year. I can also have my mom cosign if needed, and she has perfect credit.
Do I have a shot at getting approved?
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eric1
