A. Yes you are correct, lenders have changed some of there guidelines around but this does not stop you from being able to obtain a mortgage. Depending on the type of bankruptcy that you filed, IE: chapter 7, chapter 13, and hopefully having re-established your credit and now qualifying financially, you should be ok when it comes to getting approved. You may want to focus more on a FHA loan as they are typically less restrictive about past bankruptcy.
A. Depending on the type and when your bankruptcy was officially discharged, usually within 2 years of the discharge date you can re-apply. If you have limited credit then other things such as more money down and more assets will definitely increase your chances of an approval.
A. The first thing you may want to do is speak with a bankruptcy attorney or someone who specializes in this area. Definitely be careful when it comes to companies who offer you solutions on how to avoid filing bankruptcy. Typically if the deal sounds too good to be true then chances are it is not going to be a benefit to you. Coachmyloan.com does not practice law but from a mortgage profession and dealing with people who have filed bankruptcy, it has been our experience that in most cases you can remain in the home.
A. Yes, this will definitely play a role when it comes to the loan being underwritten. What you may want to do is speak with a mortgage coach and explain the situation completely. You may be able to qualify on your own and have your spouse on the title and deed. Remember that negatives and positives will determine the type of interest rate you may or may not be able to get. You may also want to do some research on FHA loans.
A. Most mortgage applications will ask for information regarding your employment, income, assets, debts and the prospective property you intend to purchase. Other information may be needed depending upon your situation.
A. Yes you are correct, lenders have changed some of there guidelines around but this does not stop you from being able to obtain a mortgage. Depending on the type of bankruptcy that you filed, IE: chapter 7, chapter 13, and hopefully having re-established your credit and now qualifying financially, you should be ok when it comes to getting approved. You may want to focus more on a FHA loan as they are typically less restrictive about past bankruptcy.
A. Depending on the type and when your bankruptcy was officially discharged, usually within 2 years of the discharge date you can re-apply. If you have limited credit then other things such as more money down and more assets will definitely increase your chances of an approval.
A. The first thing you may want to do is speak with a bankruptcy attorney or someone who specializes in this area. Definitely be careful when it comes to companies who offer you solutions on how to avoid filing bankruptcy. Typically if the deal sounds too good to be true then chances are it is not going to be a benefit to you. Coachmyloan.com does not practice law but from a mortgage profession and dealing with people who have filed bankruptcy, it has been our experience that in most cases you can remain in the home.
A. Yes, this will definitely play a role when it comes to the loan being underwritten. What you may want to do is speak with a mortgage coach and explain the situation completely. You may be able to qualify on your own and have your spouse on the title and deed. Remember that negatives and positives will determine the type of interest rate you may or may not be able to get. You may also want to do some research on FHA loans.