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Answers (6)
- Massey Kouhssari, "BankerBroker"
- Contributions:83
Your paper work showing its inclusion in BK is your Saviour. No problemo if you do not have any lates since the BK and you qualify with other guidelines, that should not hold you back
- Adam Cohn, "palmbeachmortgage"
- Contributions:130
That wont be a problem if you can show the bk paperwork proving that.
- Greg Cowart, "Roseville Loan Guy"
- Contributions:448
If it was listed on your list of discharged debtors you should be fine (if you qualify for the loan otherwise). You may want to have that corrected with the three major credit bureaus so it's less likely to be a problem in the future though...
Your loan consultant may be able to help you with that (I do for my clients) but it's also very easy to do on your own if you have the documentation showing that the collection was included in your BK.
Greg
- Massey Kouhssari, "BankerBroker"
- Contributions:83
Good letter of explanation along with proof that it was included with your BK if Judgment date is before BK discharge date, No Lates since the BK, Meet the min requirements of the lender
- Celia Butler Home Loan Diva, "At Academy Mortgage"
- Contributions:359
I work with a credit company and do rapid rescoring if it is necessary. I also have access to a "what if" processing to know how to improve your score effectively and in a quick fashion.
I have been successful in doing loans for many with short seasoning on BKs if it is possible for you to document your circumstances / hardships and then use compensating factors to move forward and purchase.
Sincerely,
Celia
I have been successful in doing loans for many with short seasoning on BKs if it is possible for you to document your circumstances / hardships and then use compensating factors to move forward and purchase.
Sincerely,
Celia
- Christopher Jones, "chrisjonesmtg"
- Contributions:87
If it was listed in your list of creditors on your BK, you should be ok.
But, for FHA it depends on the type of BK and your ability to reestablish credit. Chapter 7's require 2 years from Discharge. Chapter 13 require 1 year since filing and 12 timely payments to the trustee. Both require clean credit history since the BK. You also need to meet the credit score requirements of your lender.
But, for FHA it depends on the type of BK and your ability to reestablish credit. Chapter 7's require 2 years from Discharge. Chapter 13 require 1 year since filing and 12 timely payments to the trustee. Both require clean credit history since the BK. You also need to meet the credit score requirements of your lender.
I have a judegemnt for 7000. It was included on my BK.
On my CR it shows that I sill owe that. But It was included on my BK.
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