Get a life
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You'll have to wait until the BK has been discharged for 2 full years before you can get anything. |
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Skip
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Mighty_wh is correct there are many lenders that will lend to people that are just out of BK.
The thing you have to do is find a mortgage banker that specialize in sub-prime lending. You want to get a specialist or other wise you will be wasting your time.
Once you have found one he will need several things to complete a loan application and get a credit report on you so he will have your credit score.
After he has your credit score he will be able to tell what loan programs you are qualified for as well as the percentage of house they will lend to you.
You said your BK would be discharged on March 2006, I hope that was a typo and your BK has been discharged, because again the longer is has been discharged the better your loan package will look to a lender.
I hope this has been of some use to you, good luck.
"FIGHT ON" |
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mighty_whitey
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What do you mean, "it will be discharged on March 2006"? This is 2007. If you mean it will be discharged next month, lots of lenders will loan to you one day after your bk has been discharged. As long as you meet their other criteria, you're in! Try First Franklin- I think they loan in 47 states. The odds that you live in one of them are good. |
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togashiyokuni2001
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Okay, first things first, when dealing with BKs, banks look at discharge date, not filing date, so by the time you need to have a home, you'll have 13 months of seasoning on it. I do know of lenders that will do up to 80-90% on the loan, but that's it. Usually, if you want 100%, you need to wait at least 24 months. |
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Brian G
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There are programs out there for pretty much everyone, you just have to look harder to find some. With such a recent bankruptcy, you will most likely pay a very high interest rate and will be required to put a big percentage down. |
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kittyrogers
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You are in bankruptcy, buddy. You cannot buy a home at this point. Why can't you rent? And why would you be in "desperate need" of buying a house by April 2007? That makes no sense. Rent for the time being. And to all who are telling you that you can buy, I have a flash for you. YOU CAN'T! YOU ARE IN BANKRUPTCY and I don't think either you or some of these other people quite understand what that means! |
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Wayne Z
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You are better off renting.
There are probably some places that will lend you money but the interest rate is going to be very as your are now considered a very high risk. |
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Johnny A
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why do you have to buy? Why not rent? My gosh, you are in bankruptcy man! |
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patrickmcc55
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Your chances are very slim of getting a mortgage with a bk in your recent history. Most commercial lenders will deny you, even if you have a huge amount of money to put down, (which I assume you dont, since you just went bk).
The only chance you may have of purchasing will be with a spouse or parents on the loan. the only other chance would be with private owner financing, but be prepared to pay a higher rate, and put at least 20% down. |
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Bobbie
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look on line for" mortgage lenders for all credit types".there are some out there. |
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