and you're ready to try again
because houses are cheaper now
and you're a school teacher
you are in a low income school
but you are not in a low performance school
and you need 7K-8K for a downpayment
there should be a teacher loan program
I work for one of those HUD-approved nonprofit organizations. We administer LATMAP (Los Angeles Teachers Mortgage Assistance Program), LAUSD's homeownership services. Basically, we're seeing down payment assistance programs shrinking. The City of LA now only has ADDI, which as lower income max. The County of LA is out of money indefinately. CalHFA through the state has programs for low and moderate income offering 2%, 3% or 4% of the purchase price depending on the program. If prices continue to fall in your area, it would behoove you to wait. You should also check out ACORN housing. I provided a link to LATMAP below.
Tell Marie about your BK, your FICO and that you are a teacher. It has been over 2 years since your BK so that should not be a problem. Is 663 your middle score? It may have to be a little higher, but Marie will be able to tell you if she can help - I've seen her work things out for several people.
My fico is 663. I will need about 7,000 or 8,000k for a down payment since the loan amount is about 239,000.
You should call the housing department in your area to inquire. Also, if you are an educator there are many grant programs available.
How is your FICO score? Do you know what price range you will be looking in? There are still 100% financing programs available. If you would like to email me the answers I'll see if I can help you - I can refer you to an excellent loan officer (I do not make money from the referral).