Home Buying in 07302>Question Details

melbern9, Home Buyer in Yonkers, NY

i recently received my chapter 13 bk discharge.is it possible to get an fha loan.my credit score is about 600.i have good income.thanks

Asked by melbern9, Yonkers, NY Sun Feb 24, 2013

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Answers

4
Hello,

FHA rules allow a lender to consider approving an FHA loan application from a borrower who is still paying on a Chapter 13 Bankruptcy–but only if those payments have been made and verified for a period of at least one year.

The borrower isn’t automatically able to apply for a new FHA loan if they meet this requirement--the court trustee’s written approval is a condition of the policy. Additionally, the borrower must write a detailed explanation of the bankruptcy and submit it with the loan application. The borrower must have good credit, a satisfactory employment history and other financial qualifications.

I'd be happy to help if you have any questions or want to discuss.

Email: suepaerels@gmail.com

Many thanks!

Warm Regards,

Susan Paerels
Sr. Loan Originator
Mortgage Associates
36-42 Newark St. Suite 201
The Clam Broth Building
Hoboken, NJ 07030
NMLS: 340466
NMLS: 178928

The Hassle Free Mortgage!
1 vote Thank Flag Link Fri Apr 12, 2013
BEST ANSWER
Jose Martinez, Mortgage Broker or Lender, Hoboken, NJ
Hi

In order to get FHA Financing you would need to be dicharged 1 yr, and have no other lates after this.

Call me i can give you your options.


Also check out my Video on How Purchases are made.

http://www.youtube.com/watch?v=qe29-4VZxyU&feature=youtu.be


Let Coldwell Banker bring you Home!!



Jose Martinez
201-494-1973
0 votes Thank Flag Link Sun Feb 24, 2013
Hi!

As a Realtor I would defer the answering of this question to the experts that are on here. However, if you do not receive a response feel free to contact me and I will put you in contact with a few excellent Mortgage Representatives that can answer any questions about an FHA Loan or any other Mortgage product that you might have.

You can reach me at 973.868.4034 or at EmilVeltre@aol.com

Best regards,
Emil

Emil Veltre, R.Ph, MS, CDPE
973.868.4034
emilveltre@aol.com
0 votes Thank Flag Link Sun Feb 24, 2013
Hi

In order to get FHA Financing you would need to be dicharged 1 yr, and have no other lates after this.

Call me i can give you your options.


Also check out my Video on How Purchases are made.

http://www.youtube.com/watch?v=qe29-4VZxyU&feature=youtu.be


Let Coldwell Banker bring you Home!!



Jose Martinez
201-494-1973
0 votes Thank Flag Link Sun Feb 24, 2013
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