Question by ronald m: even with the mortgage meltdown, can i still get a 100% home loan after 1 year post bankruptcy? even with the mortgage meltdown, can i still get a home loan after 1 year post bankruptcy? my middle credit score is 624. i just paid off a $ 1000 credit card and the impact (if any) from that isnt showing on my credit report yet. if i have a chance, can someone please point me in the right direction. Best answer for even with the mortgage meltdown, can i still get a 100% home loan after 1 year post bankruptcy?:
Answer by leah.ifft
I have been out of the industry for a few years now, but I hear that 100% financing is still possible. Talk to a local mortgage broker. If you don't know any, ask your realtor to refer you to one. Best of luck!
Answer by lillian
I doubt it. You would want a reputetable institution, and at this time most of those aren't taking any chances. There are hackers out there, hence the name.
Answer by David M
100% mortgages basically disappeared with the sub-prime mess and collapse of the housing market. Add to that your very recent bankruptcy and you basically have no chance. What is amazingly surprising to me is that so soon after the financial mess you put yourself into, it appears you haven't learned a single thing. You are actually out there looking for 100% financing after you have proven for all to see that you can't handle credit? Have you learned absolutely NOTHING? Luckily for you no reputable lending instutution will allow this. Perhaps a loan shark. But if you try to screw them the way you reecently screwed all your recent creditors. It will be much more painful to you.
Answer by The Professor
You have no shot at getting any type of a mortgage a year after bankruptcy....100% or otherwise. It is going to be a long time (think years, not months) before any mortgage company is going to trust you as you have clearly proven you can't handle debt. This is especially true with the housing market meltdown and the sub-prime mortgage mess. Sorry to be harsh, but you need a serious dose of reality. Get used to renting. Good luck.
Answer by FRANK Mortgage Broker
There is a possibility, but more information is needed. Please feel free to email me.(Email is on profile.)
Answer by Charles97
need more information (income, asset, and etc), but check this web site. You might be able to find a lone. http://www.amerisave.com/partner/chongthong
Hi my name is Jim Woodworth, I'm a Mortgage Banker at Quicken Loans and I'm going to talk to you a little bit about applying for a mortgage after a bankruptcy. I get this question a lot and for the most part, after your bankruptcy is discharged you've got to prove yourself all over again. It's imperative that you get some type of new credit established after the fact. Whether it's a car loan, a bank loan, credit card, student loan -- whatever it may be, it's imperative that you show lenders going forward that you've done a good job of managing your credit. After the bankruptcy is discharged, in most cases you'd have to wait at least 2 years before you'd be able to get new financing for a mortgage -- whether it's purchasing or refinancing. In some limited cases we can get you approved after one year. It depends on what kind of credit you have, what kind of payment history you have and how many pieces of credit you have -- but generally speaking you'd have to wait at least 2 years. It's imperative you get some kind of new credit established after the bankruptcy and the most important thing is you get your payments made on time after the bankruptcy. We'd love to talk to you about it specifically & everybody's situation is a little bit different so we may be able to get one person approved and not the other so give us a call or find us online. You can find us online at www.quickenloans.com -- we'd be happy to help. www.quickenloans.com
http://leafgardenpress.com/ Mortgage After Bankruptcy? Quicken Loans Jim Woodworth
One of the biggest questions that people ask when they lose their home is how long they have to wait to apply for another mortgage loan after declaring bankruptcy, foreclosing on a previous home, or having a short sale on your home. Applying for a ... Here's Everything You Need To Know About Buying A Home After You've Faced ...
If you are a homeowner with a recent bankruptcy and have been dropping mortgage refinancing, a new mortgage could help you build your credit again. It is much easier to get approved today with a recent bankruptcy than in previous years, but it will take some work on your part to avoid overpaying for the loan. Here are some tips to avoid paying too much when mortgage refinancing after bankruptcy.
- Lenders TreeMortgage Refinance After Bankruptcy: Comparison Shop Online
TheThe mortgage is extremely competitive, which means that there are options available that did not exist a decade ago. With a recent bankruptcy no longer prevent you from refinancing your mortgage, however, depends on the amount you pay, and how adept you are a shopper's paradise.
Online search makes it easy to compare loan offers from a variety of different lenders. Watch out for "Computerized origination fees," as many pages like Lending Tree Free ridiculous feesFill out a form on their website. Lending Tree is notorious for this and you will be as much as $ 1300 is loaded when it is claimed, no fee charged to you for their service. The bottom line with online mortgage refinancing comparison shop carefully and read the fine print before you choose a loan. - Lenders TreeMortgage Refinance After Bankruptcy: Beware retail markup
As one can expect that a higher interest rate than mortgage refinancing after bankruptcy, it is important to payto avoid the payment of any retail markup of the loan.
Mortgage companies routinely markup the interest rate you qualify to increase their revenues. An overcharge by the retail mortgage company is called Yield Spread Premium, and results in paying thousands of dollars in unnecessary interest per year. How can I avoid paying this markup of your mortgage interest rate?You can learn more about mortgage refinance after bankruptcy to learn how costly mistakes to avoid by registering for a free mortgageTutorial.
http://www.lenderstree.pannipa.com/2009/10/13/mortgage-refinancing-after-bankruptcy/
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