Posted on: 31st Jan, 2010 01:47 am
We stopped paying our mortgage 5 months ago. We needed a way to raise money to buy the new home. I'm certain at some point we will be in a foreclosure.
So far not much luck getting financed, We had almost 9 1/2 years of mostly on time payments, nothing over 30 days late. Is there anyway to document that payment record?
I have serious medical issues over the last 7 1/2 years. The costs of that lead to the situation I'm in right now.
I had hoped to get a place financed before the bankruptcy showed up on our record.
Are there any mortgage options for me?
So far not much luck getting financed, We had almost 9 1/2 years of mostly on time payments, nothing over 30 days late. Is there anyway to document that payment record?
I have serious medical issues over the last 7 1/2 years. The costs of that lead to the situation I'm in right now.
I had hoped to get a place financed before the bankruptcy showed up on our record.
Are there any mortgage options for me?
Private money which is very expensive. Would also need to know the loan to value and other questions.
Make sure with your BK that they list all the BK items on your credit report. A lot of times they don't do this and your score drops even more.
Make sure with your BK that they list all the BK items on your credit report. A lot of times they don't do this and your score drops even more.
a 475 score is off the radar as far as the vast majority of lenders is concerned. as banker noted, you'll find only those with "private" money who might be willing to take a flyer on your situation. that means higher than high rates, as a compensation for the risk involved.
