Anyone have experience with obtaining a Mortgage post Ch7 bankruptsy (am 15 months post discharge)? I was never late on my mortgage or auto before or during the BK. Have since paid off current mortgage and now looking for a larger home. What kind of time frame should I expect before applying? Should I expect "bottom of the barrel" interest rates? Any particular lender more favorable than another? Any to avoid? Any advice would be appreciated.
Ok, yes, I have a great mortgage post BK, though it was 5 years. I was told 2 years for FHA (which is what I have)...have the best rates possible at the time of closing (last July), and paid only 3% down. I used aimloans.com and had wonderful luck with Don Semler at don@aimloans.com. He'll talk to you before you have to do anything and give you a good idea. Finally, there's a ton of info on here, do a search on mortgages...you'll find all this info and more
I obtained a VA mortgage (zero down, 1% above A paper rate, no PMI, closing costs in the loan) 18 months after discharge of Ch7.
Cinergi It is completely possible to get a post BK7 mortgage. Normally, a conventional lender will not available, however, there are several nonconforming lenders that will provide you with a mortgage. As to interest rate and DP, that will depend on how your credit has veen rebuilt since the BK. Hope this helps. fla-tan
