In the past decade, the American Dream of owning a home has become more like the American Nightmare. With more than 7 million homes foreclosed over the past eight years and unemployment hitting record levels, buying a house has been the last thing on people’s minds. To make matters worse, perhaps you have had to …
“Dear Steve, I recently discharged my ch 13. I am interested in understanding how long I should wait to consider a new home purchase. My fiancé has excellent credit but I contribute the bulk of the income. I am hoping that the 2 years you eluded to can be minimized with his credit history. Thoughts? …
“Dear Steve, My husband and I have about 60K in a combination of personal and failed business debt, but otherwise have sqeaky clean credit. We do not own our home and would like to as soon as possible. Our problem is that we have been paying near $800 a month on debts every month for …
One generally unfounded fear people have is that filing bankruptcy will stop you from buying a house. That’s just not true. Granted, being able to qualify for a mortgage immediately after filing bankruptcy might be a bit tougher, but the reality is that filing bankruptcy and clearing away unmanageable debt can actually make it easier …
For those who have declared bankruptcy, it may feel as though you’re on financial probation for up to 10 years, since that’s how long a bankruptcy can stay on your credit report. However, mortgage borrowers could be eligible to apply for a home loan in as little as one year following a bankruptcy. “If you …
How long after bankruptcy can I buy a house? Well there is a question that people often want to know. They assume they will not be able to buy a home or get a mortgage after bankruptcy but that’s just not true. The reality is most people that claim you can’t get a mortgage after …
“Dear Andy, Went bankrupt 2 years ago. Been a discharged bankrupt for just over a year. Is it possible to get a mortgage? I am a first time buyer and would love a house and am more financially stable than i have ever been. David” Dear David, With the mortgage products available today, there won’t …