Filed Bankrupcy on 2010 for Chapter 7, now I had a credit score of 650 and interesting to buying a COOP on 350 Richmond Terrace, Staten Island NY

Asked by Collsand, 10301 Sat Oct 27, 2012

I had filled bankrupcy 7 due to lack of work for around four years including the time of 2009. I did not have control of making payments. Was a difficult time decision for me.
Now, I only have one credit card with $182.00 buck to plans to payoff next month and I have a credit score of 625. I am working for an insurance corporate as assitant manager which recently start to working for this company past 7 months, My future plans is to buy a dream coop in 350 richmond terrace, with a down payment of 10% of the coop, is this is be possible??? For now sounds like a dream. I would be a first homeowner buyer. Other credit card payment and my card has been payed in full.

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lendersnetwork’s answer
lendersnetwo…, Agent, Plano, TX
Sun Sep 1, 2013
Yes there is a new program for FHA by HUD for people in your shoes you just need 12 months from the date of the Bankruptcy, short sale or foreclosure.

The U.S. Department of Housing and Urban Development (HUD) recently announced the “Back to Work – Extenuating Circumstances” program, aimed to help people who have lost their home through foreclosure, short sale or bankruptcy. HUD has reduced the previously required minimum of 36 months to 12 months before they may be able to finance another home, given that they meet HUD’s minimum eligibility requirements.
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Anna M Brocco, Agent, Williston Park, NY
Sat Oct 27, 2012
Was the bankruptcy discharged...keep in mind that when it comes to co-ops, boards do have their own financial requirements that must be met in order to be approved, and each building is different. Consider improving your credit score a bit more and saving up additional money; consult with any local agent regarding board requirements, or directly contact the respective management company regarding board financial policies....
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