Posted on: 07th Aug, 2011 07:26 pm
Past:
Had 220k home loan from 2/2006
Moved across country for work in 11/2008
Paid mortgage+additional 250 for principal from 2/2006 to 7/2009
Stopped paying after 7/2009 bc had to pay 2500 in rent in new location plus had the mortgage with no tenants
Filed Bankruptcy 10/2009 due to home + ccs ran up trying to keep paying with no tenants
Discharged bankruptcy 2/2010
Gave up home and both cars in the bk
Now:
Found out home still not foreclosed and owed 3k hoa dues so paid the HOA and moved back to original location and live in the original house cause not yet foreclosed
Likely to be foreclosed in September/October
Have a few k in credit card limits but the balances are paid off each month
Have only a $330 car payment, $70 insurance and $50 cell phone and no other bills other than utilities, food, clothes, etc
I'm now making $125k salary + 30-45k bonus and want to buy a $150k home; much more practical since it only costs what I make in a year and my only other loan is $330/month car loan.
I can put 10% down.
How do I get a lender that will qualify me? I have bankruptcy just under 2 years ago and foreclosure currently that will happen in next two months.
i'd like to buy a 150k home and move into it as we just moved cross country into this last month and dont want to move to apartment now just to move again when we buy
i have wife and 2 young kids, also
on paper i'm a risk cause of foreclosure and bankruptcy, but I bring home 3700 every two weeks after taxes plus large bonus and have no bills and only want a modest 150k home; moving across country to pay 2k mortgage + 2500 rent for <100k salary with 2 small kids killed us financially and caused bk and foreclosure, but now we are in a much better situation
so what banks/brokers do I talk to in order to get a loan? In GA btw.
we want to get the cheap home, pay double to triple the mortgage each month + put bonus to it each year so we have it basically paid off and can then buy our dream home for 300k in 4-5 years when bk/foreclosure is further behind us and our credit is improved and i'm likely making 200-250k+
we are willing to sign a 15 year mortgage if that helps since we are paying it off quickly anyway
Had 220k home loan from 2/2006
Moved across country for work in 11/2008
Paid mortgage+additional 250 for principal from 2/2006 to 7/2009
Stopped paying after 7/2009 bc had to pay 2500 in rent in new location plus had the mortgage with no tenants
Filed Bankruptcy 10/2009 due to home + ccs ran up trying to keep paying with no tenants
Discharged bankruptcy 2/2010
Gave up home and both cars in the bk
Now:
Found out home still not foreclosed and owed 3k hoa dues so paid the HOA and moved back to original location and live in the original house cause not yet foreclosed
Likely to be foreclosed in September/October
Have a few k in credit card limits but the balances are paid off each month
Have only a $330 car payment, $70 insurance and $50 cell phone and no other bills other than utilities, food, clothes, etc
I'm now making $125k salary + 30-45k bonus and want to buy a $150k home; much more practical since it only costs what I make in a year and my only other loan is $330/month car loan.
I can put 10% down.
How do I get a lender that will qualify me? I have bankruptcy just under 2 years ago and foreclosure currently that will happen in next two months.
i'd like to buy a 150k home and move into it as we just moved cross country into this last month and dont want to move to apartment now just to move again when we buy
i have wife and 2 young kids, also
on paper i'm a risk cause of foreclosure and bankruptcy, but I bring home 3700 every two weeks after taxes plus large bonus and have no bills and only want a modest 150k home; moving across country to pay 2k mortgage + 2500 rent for <100k salary with 2 small kids killed us financially and caused bk and foreclosure, but now we are in a much better situation
so what banks/brokers do I talk to in order to get a loan? In GA btw.
we want to get the cheap home, pay double to triple the mortgage each month + put bonus to it each year so we have it basically paid off and can then buy our dream home for 300k in 4-5 years when bk/foreclosure is further behind us and our credit is improved and i'm likely making 200-250k+
we are willing to sign a 15 year mortgage if that helps since we are paying it off quickly anyway
If you had filed a Chapter 7 bankruptcy, then you will be able to get a FHA loan after 2 years of your bankruptcy discharge. If you wish to take out a conventional loan, then you'll have to wait for 4 years after the discharge. Nevertheless, you should contact the GA based lenders and check out if they can help you in getting a loan.