Home Buying in Kansas City>Question Details

Toya, Home Buyer in Kansas City, MO

Have a chapter 7 with terrible credit. i want to be financed for a house to rebuild and stop paying someone

Asked by Toya, Kansas City, MO Thu May 8, 2008

else's mortgage by renting. is there a way to get a loan?

Help the community by answering this question:


Also, please visit: http://www.naca.com. This loan program is 100% legit. I refer my buyers to this program here in Little Rock, AR all the time! I believe in the product they offer and it is amazing!

No closing costs
No down payment
No perfect credit
Lowest, fixed interest rate for 30 years
Use the closing costs you receive from the seller to buy down your interest rate
Take out extra money to remodel a home, buy new appliances and more by having it added to your loan

My sister purchased a home with the NACA program in December of 2007. I promise that they delivered everything they promised with their loan product. Their funding comes from Bank of America.
My sisters interest rate is 3.8% fixed for 30 years. My client last week closed on a home at 1.6% fixed!!! She did put additional money down.

Right now their interest rate is 5.6% (just checked for you) - and everyone receives this rate regardless of their score. I also just checked to verify that it is offered in your state and it is in Kansas City and St. Louis, MO.

I am purchasing my next home with a NACA loan and I have excellent credit!

Promise me you will at least check in to it! It will be a blessing to you!

Homebuyer Advantages
0 votes Thank Flag Link Wed Jun 11, 2008
You will need to wait at least two years from the discharge to be able to anything.
Web Reference: http://getprequalified.com
0 votes Thank Flag Link Sun May 18, 2008
I agree with everyone especially if your BK is not discharged....You need to focus on fixing the damage. But dont go to a broker about it. Go to a credit counselor or a reputable credit repair angency. Best of luck!
0 votes Thank Flag Link Sat May 17, 2008
Forget sitting down with a mortgage broker right now, you need to focus on getting out of debt and then trying to work up a down payment. I am never against homeownership but if you have terrible credit and filed 7 then you may still be spinning in the turmoil this mess has left in its wake. You may have it all cleaned up but judging by your anger about being a tenant I get the feeling you are not ready. I am going to ad a website below that you should check out....I have nothing to do with it but I really think it is a good recommendation. Good Luck to you, I hope you get everything worked out......
Web Reference: http://www.daveramsey.com
0 votes Thank Flag Link Sat May 17, 2008
Toya -
Dale is right. You need to talk with a financial counselor first. Rebuilding from a chapter 7 with terrible credit is do-able but it's generally not a quick fix. There are many professionals and "free" consumer programs that can help you get back on track but be sure you share absolutely ALL your information with them. Sometimes people start to work with counselors and then come back saying...oh by the way, I forgot to tell you about (fill in the blank here). Look for the programs the government has set for you first rather than taking on more debt by paying someone. The road to your goal may be a little longer than you would llike but start on it today and you'll get there sooner than you think. Good luck.
Trisha Lee REMAX Boone Realty, Columbia, MO
Web Reference: http://www.TalkToTrisha.com
0 votes Thank Flag Link Fri May 9, 2008
You need to sit down with a finance counselor and talk to them in depth first, then go talk to a good mortgage lender. Your local county housing development office will probably have a special program that coordinates financial counseling and home buying - they would be able to tell you if, in your indiividual case, it is doable or not.
Web Reference: http://www.yourstlhome.com
0 votes Thank Flag Link Thu May 8, 2008
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