Financing in Sicklerville>Question Details

Shama.nix, Home Buyer in Sicklerville, NJ

If went through bankruptcy is it impossible to buy a home?

Asked by Shama.nix, Sicklerville, NJ Fri Mar 15, 2013

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Marsha Bowen-Washington’s answer
It's very possible, I've worked with a few clients that filed bankruptcy in 2008, re-established good credit and were able to get a mortgage. The key is you have to re-establish good credit. A foreclosure is actually worst than a bankruptcy according to some legal advisors.
0 votes Thank Flag Link Sun Mar 17, 2013
Have your agent look for homes where the owner will carry the paper while your re-establish your credit.
0 votes Thank Flag Link Sun May 11, 2014
Don't let a bankruptcy stop you from buying a new home. See Comstock if you have a buyer in need. They have a flexible credit loan. This program assists homeowners who have recently been through a foreclosure, short sale or have recently emerged from bankruptcy.

http://www.thinkcomstock.com/buy-after-foreclosure
0 votes Thank Flag Link Sun May 11, 2014
CFS Mortgage's, http://www.cfsflex.com, has a flexible loan program. They allow a mortgage after a foreclosure, short sale, or chapter 7 bankruptcy. There is only a six month waiting period. This is perfect for individuals looking to become homeowners again.
0 votes Thank Flag Link Sun Jul 21, 2013
Of course you can buy a home!
But that is not your real question.
The real question is can I get financing?
And the answer to that question is yes.
The caveat is, did you ride the wave or did the wave ride over you?
If you rode the wave, you will be able to get financing, but not via the "too big to fails."
You have more options than you imagine. Check with your real estate agent.
Finally, if the wave rode over you, as others have stated, you will need to wait the appropriate time and keep your ratios in check.
0 votes Thank Flag Link Fri Mar 15, 2013
Yes you can purchase after bankruptcy. It just depends on how long it has been since discharge date. Feel free to contact me as I specialize in Sicklerville.
Web Reference: http://Www.njrealtorjan.com
0 votes Thank Flag Link Fri Mar 15, 2013
I am doing business with someone who had a bankruptcy right now. In fact she also had a repossession. She is buying a home closing next month.

We see this all the time. When you discharged your bankruptcy makes the difference though. Establishing new credit lines will make you eligible for a mortgage.

If you have no credit I have a contact with a non profit company that will assist you

Here's a lender that can really help

Joseph S. Cordova NMLS# 146855
Evesham Mortgage, LLC
22 South Maple Avenue
Marlton, NJ 08053
office: (856) 985-9944 ext. 103
direct fax: (206) 333-0946
cell: (856) 304-2381

Search foreclosures and short sale here: http://www.BuyNJShortSales.com

"Nobody Sells More Real Estate than RE/MAX"

Search the MLS on your phone by Text: In the subject line on your mobile phone- LSAR1 -to number 87778 ... hit send... A GPS feature for listings at your finger tips

Larry Sarlo When you want it Sold Fast!
RE/MAX Preferred
609-868-1171 call / text / email 7 days
lsarlo@comcast.net
http://www.larrysarlo.com
0 votes Thank Flag Link Fri Mar 15, 2013
Shama,
It is possible to get home financing after a bankruptcy. The key questions are:
What was the date of discharge?
Have you re-established credit and opened new accounts since the date of discharge?
Have you had any late payments since the date of discharge?

Answer these questions and I can provide a little more clarity as to what your options are.





Jonathan Joachim

Renovation Branch Manager, Renovation Specialist
NMLSR ID 413808

Wells Fargo Home Mortgage | 87 Berdan Ave | Wayne, NJ 07470
MAC M6018-011
Tel 973-686-3244 | Cell 973-981-3403 | Fax 973-686-3250 | eFax 866-358-2101

jonathan.joachim@wellsfargo.com | http://www.wfhm.com/jonathan-joachim
Web Reference: http://www.best203K.com
0 votes Thank Flag Link Fri Mar 15, 2013
Yes, depending on how along ago your bankruptcy was discharged. I believe the waiting period is two years for a bankruptcy and 3 years for a foreclosure. Double check that with a mortgage lender. If you need to be put in touch with a lender, please reach out to me here on Trulia and I will be glad to introduce you to someone who is excellent.
0 votes Thank Flag Link Fri Mar 15, 2013
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