C.F.

I'm sorry to hear this, but you're in a tough situation right now because of the foreclosure, then the BK ...

First thing you need to do is check with FICO.com or free credit report.com or any of the good services out there and "hook-up" for the monthly service because of the many changes that will go on ... so you need to read it -and- understand it now, and 10 months from now.

For starters under the new BK laws, your past and current creditors will and can still go after their loss revenue, so you have no idea of what that shadow will look like ..

.. your credit report might show certain accounts charged off, some might even show current, others could be "frozen" in time and reactivate it 22 months then show a $9,000 charge-off in 30 days, it's common .. I've seen folks with perfect credit denied a closing 2 days away because the lender pulled a universal revue (most lenders do it) and their a credit report showed a bad account that wasn't really there ...

The point is, unless you get your credit in-check ... you could be 8 or 10 years out.


Good luck.!

Tue Mar 11 2008, 05:07

I am not a lender. However i do think your banckrupcty needs to discharges for two years. I have a wonderful loan officer that works with problem credit and could better answer that question. Work on staying on time with your bill and rent. You may try a rent to own situation.However before taking this route talk to a GOOD Lender!!! Let me know if you need help finging one and Best of Luck!!!

Tue Mar 11 2008, 04:24