apply online: mdangelo.brandmortgage.com
50 Chastain Center Blvd. | Kennesaw, GA 30144
NMLS# 75615 | 658834
Keller Williams Realty Signature Partners
CFS Mortgage - http://www.cfs203k.com
Can you? Possibly, with terrible rates, high fees and a short duration before it's due to be refinanced or paid off. Should you...? That's a different question that I want you to consider.
Very good people have been through some very tough times over the past few years through no fault of their own. If you fit this bill, then I would encourage you to take some time to get back on your feet. Save up some money for an emergency fund and down payment, when you do qualify for a more competitive mortgage you'll need it. Pay any bills you have 1 week early and establish a good habit. If you don't have any new credit since your BK's, you're going to need to re-establish before conventional lenders will consider you. One way to do this is to talk to your bank or credit union about getting a secured credit card. If you deposit $1000 you have a credit card with this (or possibly less) as a limit. Use the card & pay it off every month for expenses you already have like gas & groceries.
See if you can get some credit counseling from a local non-profit company, a mortgage broker or even a church who participates with Dave Ramsey's program. It may not take long to turn things around. You have a good income and a chance to establish some long term goals of financial soundness and home ownership. I wish you the best.
Your other option is to improve your credit score.
I can connect you with a good lender that is very familiar with this process.
Isabel Elsesser, Residential Specialist
First United Realty
Save Time & Money!
Full Time from 1993-2013