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Loan qualifing help

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johnfranco6 Joined: 15 Jun 2011 Posts: 1 1.33 Dollars($)	Posted: Wed Jun 15, 2011 7:47 pm    Post subject: Loan qualifing help Like 0 Dislike 0 We recently (6yrs ago) gave up our house in an area that was deemed a geo hazard area, La Conchita CA. Allowing the bank to foreclose and subsequently forced us into bankruptcy. My fico score is currently at 600 and our DTI would be below 35% with the home we have in mind. Would a strong cosigner help us qualify for a FHA loan?
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Wed Jun 15, 2011 10:59 pm    Post subject: Like 0 Dislike 0 Hi johnfranco, With the help of a cosigner, you'll be able to qualify for a loan. Once you have a co-signer, you should contact the local lenders of your area and start applying for a mortgage. Thanks
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Thu Jun 16, 2011 12:00 pm    Post subject: Like 0 Dislike 0 Six years is plentifully sufficient for you to bounce back and obtain an FHA mortgage. I gather you bring up the topic of a co-signer due to lack of income. That ought to give you the impetus you need to obtain a new loan for a new property. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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