Sassime40, Home Buyer in Lehighton, PA

Buying a home after a chapter 7 bankrupt?

Asked by Sassime40, Lehighton, PA Tue Nov 13, 2012

I am looking to purchase a second home for retirement with my fiance'. He has a chapter 7 bankrupt discharged in 2009. We both have good credit and 25% to put down. Both scores over 640. Could we possibly get a mortgage? And which one would best fit our needs.

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Answers

13
------------------Start packing!!!

See programs below, then contact me to talk about how to minimize payments and reduce out of pocket costs.

1) 100% LTV- VA / (VA Jumbo @ lower ltv)
2) 100% LTV- USDA/12 mo. into Chapter 13 BK…OK Too
3) 99% LTV- FHA / (FHA to 580 score @ lower ltv)

4) 97% LTV- No monthly MI-No FHA 1.75% Fee
5) 95% LTV- CONDO
6) 90% LTV- No PMI -2nd Home
7) 90% LTV- JUMBO
8) 85% LTV- No PMI - Super Jumbo
9) 80% LTV- Invest./Rental
10) 75% LTV- Foreign Nationals

--------STATED INCOME ALT up to Super Jumbo-----------
http://www.StatedIncomeALT.com
11) 80% LTV- FIX n’ FLIP Invest. Prop.
12) 75% LTV- Foreign Nationals
13) 75% CLTV- Short Sale, BK, Foreclosure Forgiveness
14) 70% LTV- Soft and Hard Money
15) LOT/VACANT LAND LOANS
16) COMMERCIAL PROGRAMS-available nationwide

Go to: http://WWW.PRO-OPTION.COM or call 888-662-4404

Steve McRory
Pro Option Mortgage/ Florida
steve@pro-option.com
#204296

Prior Service U.S. Marine Corps
====
0 votes Thank Flag Link Sun Jul 21, 2013
Check out CFS Mortgage's loan program at http://www.cfsflex.com. 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
I had a short sale last year and my Realtor recommend http://www.cfs-mortgage.com/flex for a home loan. I am very happy to be able to purchase again. CFS Mortgage assists homeowners who have recently been through a foreclosure, short sale or have recently emerged from bankruptcy.
0 votes Thank Flag Link Sun May 19, 2013
-
Sassime,

Read down and find the program that you like and call mafter 10:30

Response from a retail Bank Rep. after I asked her how many of the below programs they can offer...
Honestly Steve, after reviewing them, I don’t think we can do any of these. We are pretty vanilla, Straight FHA VA conventional. I will keep your flyer and if I run across anyone we can't help I will send them your way. thanks

1) 100% LTV- USDA/12 mo. into Chapter 13 BK is OK
2) 100% LTV- VA/can pay off debts on purchases too
3) 99% LTV- FHA

4) 97% LTV- No PMI/MI and No 1.75% FHA FEE
5) 95% LTV- No PMI
6) 95% LTV- CONDO purchase
7) 90% LTV- No PMI-2nd Home

8) 90% LTV- JUMBO w/cc
9) 85% LTV- NO PMI to Super Jumbo
10) 80% LTV- Invest. Prop.

STATED INCOME ALT loan programs: http://www.StatedIncomeAlt.com
11) 80% LTV- FIX n’ FLIP Invest. Prop.

12) 80% LTV- NEW- Stated Income Alt

13) 75% LTV- NEW- Foreign Nationals- Stated Income Alt

14) 75% CLTV-NEW- after Short Sale, BK or Foreclosure

15) 70% LTV- Soft and Hard Money -Stated Income Alt

17) 55% LOT/VACANT LAND LOANS (by case basis)

Steve McRory
Pro Option Mortgage/Florida

http://www.pro-option.com

steve@pro-option.com

Ph: 888 662 4404

Prior Service U.S. Marine Corps
======
0 votes Thank Flag Link Fri Nov 16, 2012
I am working with several buyers that had chapter 7 in recent past. Within 3 years you can get a mortgage. Most I know had to do FHA but with your scores and 25% down you might qualify for a conventional loan.
If you would like a mortgage broker's contact info, I can give you that and then look for the home.
Call me if I can help.
Kind Regards,
Lynne Hale
Century 21 Hansen Realty
954-303-0071
0 votes Thank Flag Link Fri Nov 16, 2012
-'
Questions:

1. was there a property involved in the BK? If so, what was the exact Date the Deed/Title actually transferred back to the bank or new owner?

2. has he had any lates, collections or any other derog credit since the CH 7 discharge?

====
0 votes Thank Flag Link Thu Nov 15, 2012
It's essential that you start shopping around for a mortgage broker that can explore all your financing options, they have access to many banks, private lenders and many different programs. Choose one that can answer all your questions in the first meeting.

Best of Luck,

Maria Cipollone

Century 21 Tenace

http://www.Flahomesepcialist.com
0 votes Thank Flag Link Thu Nov 15, 2012
It sounds like your credit scores may help you to get that mortgage. For full information, Preston Ware, a very reliable mortgage broker, at 561-329-0075 or go to his website at PrestonWare.com. He'll be able to tell you what type of mortgage will work best for you.

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
JablonTeam@gmail.com
561-213-6139
http://www.JablonTeam.com
0 votes Thank Flag Link Wed Nov 14, 2012
==
Yes, this is possible. In addition your closing costs can be paid for you.

See these programs below and contact me after 11:30 today

100% LTV- USDA/12 mo. into Chapter 13 BK is OK
100% LTV- VA/can pay off debts on purchases too
99% LTV- FHA

97% LTV- No PMI/MI and No 1.75% FHA FEE
95% LTV- No PMI
95% LTV- CONDO purchase
90% LTV- No PMI-2nd Home

90% LTV- JUMBO w/cc
85% LTV- NO PMI to Super Jumbo
80% LTV- Invest. Prop.

STATED INCOME ALT loan programs: http://www.StatedIncomeAlt.com

80% LTV- FIX n’ FLIP Invest. Prop.

80% LTV- NEW- Stated Income Alt

75% LTV- NEW- Foreign Nationals- Stated Income Alt

75% CLTV-NEW- after Short Sale, BK or Foreclosure

70% LTV- Soft and Hard Money -Stated Income Alt



LOT/VACANT LAND LOANS

COMMERCIAL PROGRAMS (many programs available nationwide)


Steve McRory

Pro Option Mortgage/Florida

http://www.pro-option.com

steve@pro-option.com

Ph: 888 662 4404

Prior Service U.S. Marine Corps
==============
0 votes Thank Flag Link Wed Nov 14, 2012
Hi Sassime40,

You can go the FHA route but FHA will only allow if this is your primary residence and you stated this was a second home. Otherwise you will have to wait 48 months from the discharge date to qualify for a conventional mortgage. Please contact me with any questions and other options.

Matt Tarka
Licensed Mortgage Professional
Serving All of Florida
Direct: 954-605-2450
Toll Free: 888-246-9060
Fax: 954-343-8098
mtarka@clearmortgagelending.com
0 votes Thank Flag Link Tue Nov 13, 2012
Your best bet would be to contact a mortgage consultant who will advise with your best options. Since you filed for chapter 7 more than three years ago and since your credit is ok, you should be able to purchase a short sale property under FHA which only requires 3 % down. If you are considering South Florida for your destination, kindly fill out the link below and I will then put you in touch with my mortgage consultant.

http://josephroman.southfloridamls.com/?Page=566807

All the Best
Joe Roman
ERA Herman Group Real Estate
954-557-3416
0 votes Thank Flag Link Tue Nov 13, 2012
Hi, Please find Free Information and See All listed properties at
http://www.BUY-SELL-RENT.FLORIDA.com
Call (561)827-6789 Julie Rosenthal YOUR "Go-To" Florida Real Estate Broker
email: julier6789@gmail.com
Property Brokers International
0 votes Thank Flag Link Tue Nov 13, 2012
You can qualify for an FHA mortgage three years after discharge of a bankruptcy, so you should be in pretty good shape. Talk to a local mortgage lender and they will steer you in the right direction. If you don't know a good lender, (not a big bank but someone who specializes in writing mortgages), then call a realtor and ask to be referred.
0 votes Thank Flag Link Tue Nov 13, 2012
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