Profile picture for JeffNichols

Bankruptcy 2.5 years ago, did not reaffirm the mortgage can I get an FHA loan

We were discharged chapter 7 in August 2009.  We had a conventional mortgage and a HELOC that were not re-affirmed.  Have been paying the 1st only, the HELOC is now totally underwater.  Since the home was included in BK the debt was wiped out and nothing else after BK is shown on our credit reports.  First  mortgage is 110,000, HELOC is 80,000 home is worth about 105,000.  Perfect credit since BK, credit scores are about 680-690.  Income is about 100,000 a year.  Have enough saved for 5% down payment.  So we have enough income to qualify with both current home and new home payments taken into account.  Are they are lenders in AZ that can help us get a FHA loan?
  • April 16 2012 - Phoenix
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Answers (1)

Profile picture for cgcun
Try a local mortgage broker..they have higher fees but can match you with a lender more easily.  Maybe try lending tree and quicken loans.
  • April 18 2012
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