The stigma of having had a bankruptcy is not what it used to be and many lenders are willing to work with you as long as you meet their credit and income gudelines. Many REALTORS have suggested and I do to that you find a lender that will work with you and help guide you through the steps. In the mean time continue paying your bills and outstanding obligations in a timely manner and SAVE SAVE SAVE. The more money you can come to the table with down payment requirements and closing cost the better. Many Sellers are hard pressed to help contribute to a buyer the down payment and closing cost so having these funds will greatly help you. Hang in there Angel, stay focused. There will be a lot of buying opportunities when you are ready.
All the best,
Jeffrey Paeltz, SFR
Also, even though 3 years is the limit, investors ultimately will make this decision. If your score is not in the 700's and you have not proven a change in your circumstances most investors will not take a risk with your note. 3 years is an estimate not the ceiling. Until you have increased your score you should not get caught up in this craze to purchase a property until you are financially prepared, willing and able.
Great question! I believe the threshold is 2 years. I have a great lender that I work with frequently that has help several of my buyers in very similar situations. If you are not able to buy now, she will tell you what you need to do in order to be in a position to buy within 6 months to a year. Please feel free to e-mail me (email@example.com) and I will forward you her contact information.
RE/MAX Metro Plus
If you can make your regular payment on your credit acccounts each month then in the same month send in a small amount extra this will increase your credit score. Do not let anyone run your credit as this will lower your score at this time.
Call or email around to mortgage companies and see who can help you, again don't let them run your credit just tell them you score to get a rough idea of how much and when you can buy again.
All the Very Best
Dave & Lisa
Many Mortgage companies can pull your credit and make suggestions on how it can be repaired. The can also give you an idea on how long before you can purchase again.
They should not be charging you for any of this. If they try to charge you try another company.