Candi,

It appears you have made a major adjustment and things are going well for you. Congrats.

From the standpoint of qualifying for a mortgage, this depends upon a number of factors that would be best explored by a loan specialist.

Good luck

The Eckler Team

Hi Candi - Another option is to simply make contact with a company that assists in credit repair. I have a client currently being assisted by Eukopia Credit Solutions in Seattle. Go to http://www.Eukopia.com - 888-385-6742 - or email to Sales@Eukopia.com for more info. Another company that you might try is Credit Guard, Inc. - 1-800-771-9827.

A lot of times you may have negative items on your credit report that should have been removed. A credit repair company can assist in a fairly quick timeframe.

Greg Paul
Re/Max

Hi Candi

I would recommend looking into USDA loans. This is from the Federal Rural Housing program, and allows for you to put Zero Down, and avoid mortgage insurance to help keep your payments lower. There is some income requirements, but otherwise, it's not much different than applying for any other loan, and this loan also helps qualify people that don't have perfect credit.. Just ask your loan officer about this program, and if they don't offer it, I can email you a list of great loan officers who do offer the program in Bellgham. If your credit is still not good enough, a good loan officer can coach you on how to get your score up in 60 days or less. It's definitely a great time to get pre-qualified with the rates being so low, and the $8,000 tax credit available until December 1st. Good luck!

Paul Balzotti
John L Scott Real Estate http://www.PaulBalzotti.com
paulbalzotti@johnlscott.com

Candi
I would think you should be able to qualify for a loan but best to check with loan offiicer. I can highly recommend Kevin.Smith@wellsfargo.com, 206-389-1100. You will need a letter of explanation as to why you suffered a financial setback in 2002.
Mary

Good morning Candi:

Thank you for posting your question on Trulia and giving me the opportunity to give you a suggestion.

I hear about people qualitying for FHA loans with credit scores of 590. This is a good time to buy a home, home values are down considerably as well as the favorable interest rates. You should meet with a good lender to discuss your home buying plans and get pre-approved. If the lender determines that you are not going to qualify for a loan, they will give you suggestions of what you need to do over the next several months or years to qualify.

Please feel free to contact me for a list of lenders in Bellingham--I am happy to help.

Michelle Harrington
Windermere Real Estate-Fairhaven
360.510.0638
mharrington@windermere.com

Candi-

I am not sure what you mean by "bad credit" but I can tell you that good income and cash reserves can do a lot to counter a negative credit score. I can qualify you for an FHA loan with a credit score down to 550. You bankruptcy is old enough that it should not count against you but an underwriter will look at the amount of lates/derogatory credit items after your bankruptcy.

If you would like to call and discuss it, you are welcome to contact me.
Luke Allison
Flagstar Bank
828-777-8828
Luke.Allison@flagstar.com

Apply Online: flagstarloans.com/lallison