Qualify for a mortage? after bankruptcy

Board Topic: Mortgage after Bankruptcy How long before I can qualify for a mortage?
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Mortgage after Bankruptcy

Posted by: K Aug 23 2004, 02:04 PM
I was discharged from Bankruptcy August 2001.
How long before I can qualify for a mortage?
PLEASE HELP...I am a divorced/single parent with one income and sick of renting.

Posted by: loanuniverse Aug 23 2004, 06:27 PM
How long before I can qualify for a mortage?

You got one good thing going for you and that is that the bankruptcy is three years old. However, unless you have taken steps to rebuild your credit, I would say that chances are very low.

The first thing I am going to do is send you to:

http://www.creditboards.com/

That is a board with people well versed in personal credit where you can get good ideas about rebuilding personal credit. After all, I am a commercial credit analyst and do not do much on the consumer side.

One thing I can tell you is that using secured credit cards to build credit after bankruptcy is a good idea {of course you can never be late, and should try to pay your balance in full every month}. It is also a good idea to monitor your credit so that you can see if the things that you are doing are taking effect.

Frankly, it would be best if you visited that site for more information. They will give you better feedback.

Good luck.


Posted by: loan ninja Aug 24 2004, 01:00 AM
go to jean@eloandealer.com u can get a mortgage 1 day out of bk so you've goy 3 yrs ahead of the game. if you've worked for the past 2 yrs steady, payed rent steady no lates and have keep things pretty stairght with your bills you'll qualify for a home loan even with a low fico score, she can help she knows her business so e-mail her. ph34r.gif
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