Posted on: 08th Aug, 2012 08:58 pm
if a person has a chapter 7 bankruptcy, what does it take to get a mortgage? how long does it have to be since the bankruptcy was discharged and what kind of credit score is required and how many lines of credit in good standing are required?
The usual time required to get approved for a mortgage loan after Chapter 7 bankruptcy discharge is 3 years. Credit score requirements will be little stringent than under normal circumstances. Also join this discussion http://www.mortgagefit.com/bankruptcy/discharge-home.html
Hi luvumore!
Welcome to forums!
You can check out the given credit repair tool and clarify your doubts:
http://www.mortgagefit.com/calculators/credit-repair.html
Sussane
Welcome to forums!
You can check out the given credit repair tool and clarify your doubts:
http://www.mortgagefit.com/calculators/credit-repair.html
Sussane
Two years from the date of discharge, and you can't have "ANY" lates on any bills during that period of time. And your FICO score will need to be 640, so you'll also need to reestablish your credit - to increase your FICO scores.
