Posted on: 25th Sep, 2010 08:08 pm
My wife and I recieved a Ch. 7 bankruptcy discharge in February of this year. That is roughly 7-8 months ago. Credit score is probably just over 600 right now. We have very little debt, obviously. We have one car note that will be paid completely this month and another that will be completely paid off next summer. She's been an LPN for about 2 1/2 years and I've been a firefighter for about 8 years. We have a combined income of about $90,000. The BK was a result of an unplanned pregnancy. We tried to pay our way out of debt but eventually lost control.
We would like to buy a house and want to know what our options are. We know that we would have to go to private party lender. Are there any private party lenders who would loan 90-100% to someone in our situation? Are there any interest only programs? All information would be appreciated. We realize that we we'll be forced to take high interest rates.
We already know that the "best" thing to do would be to wait 2 years and go FHA or wait 4 years and go conventional.However, we would like to know what all of our options are though.
We would like to buy a house and want to know what our options are. We know that we would have to go to private party lender. Are there any private party lenders who would loan 90-100% to someone in our situation? Are there any interest only programs? All information would be appreciated. We realize that we we'll be forced to take high interest rates.
We already know that the "best" thing to do would be to wait 2 years and go FHA or wait 4 years and go conventional.However, we would like to know what all of our options are though.