Asked by Jba, High Point, NC • Thu Jun 4, 2009
My wife and I were discharged in March of 2008 from a Ch. 7 bankruptcy that included a previous mortgage. We moved to High Point last year due to my getting a much higher paying job, and we have been renting a home for $1500 a month, but the owner needs to break the lease and sell.
Besides a car loan, we have no debt. Income is approx. 120,000, though some is 1099 type of income. Roughly 110,000 is verifiable, stable income (salary and pension.) FICO scores just under 700. As I mentioned, the home was included in the BK, so there is no formal foreclosure in the public records section.
We are 15 months after discharge, and we desperately want to stay in the Southwest Schools district. We are considering some form of lease-to-own, but we're having a hard time finding what we want: 4 bedrooms, newer. We'd really like to buy new in the neighborhood we're in. So I'm just wondering is there any possibility at all of getting a mortgage? Thanks for any information!
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