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Answers (4)
- Justin Coleman, "UtahLoanProfessional"
- Contributions:72
As Compass mentioned, you will need to prove beyond reasonable doubt that the medical situation forced you into BK. The great compensating factor you have here is that your mortgage has never been late.
Another item that is of huge importance is your credit score. If you are at 640 and above with the compensating factors, we can manual underwrite and approve your loan.
Another item that is of huge importance is your credit score. If you are at 640 and above with the compensating factors, we can manual underwrite and approve your loan.
- NeedinFHA
- Contributions:122
great so now us the taxpayer is paying your medical bills. thanks!
- Stephen Harris, "emery123"
- Contributions:18
Your chances are slim on getting an FHA loan unless you can prove the one time hardship, have strong compensating factors (good and stable income, improved credit score, look at reestabilishing your credit, getting some assets, not sure of your loan to value). I would work on building your credit back and getting some money saved before you apply.
- Compass Lending
- Contributions:16
Normally, you need to wait 2 years. Unless you can prove circumstances beyond your control and your debt to income ratios are very good. If that is the case, some lenders will do a manual underwrite on your loan and you may qualify. Most lenders require that if this is the case, that you wait at least one year.
FHA refi 6 months after chapter 7 discharge possible?
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