Profile picture for madsen9942

I used to have excellent credit but had to file bankruptcy and was curious if I would eVER be able t

please contact me with what my options are, if any in the home buying process.
Thank you-
michelle webb
michellewebb@verizon.net
  • February 25 2011 - Hemet
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Answers (4)

Profile picture for jstasio
It does depend on the length of time passed since the BK. Also, if your credit score is 620 or above, along with other factors. I wouldn't rule it out completely, you need to speak to a mortgage broker who can help you sort it all out. I just had a client who had a BK but was able to purchase a home because the BK was more than 2 years ago, credit score was 620 and no foreclosure in the past 3 years. So it is possible. Good luck!
  • March 16 2011
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The type of loan you are seeking makes a difference and the type of bk you filed. You will want to speak with a loan officer in your area and let them show you the current guidelines.
  • February 26 2011
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Profile picture for ABBAUSA

The general rule was about 3 years after being discharged from your bankruptcy filing. If less than 3 years ago, best bet is keep making your payments on time and try and build up your savings. Look for an owner finance, but if you find one make sure it is a Note and Deed of Trust, not a contract for deed.

In time all will work out for you. Be patient and your good credit will gradually return to you.

Good Luck!

James Callas - Realtor®

  • February 26 2011
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Michelle,

There is still a chance you can get a loan, but it depends on the length of time since you filed BK.  I emailed you a contact name and number who can help.
  • February 26 2011
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