Looking for a private mortgage lender for a COOP in Forest Hills, NY. Chapter 7 bankruptcy discharged 3 years ago. Any advice?

Asked by Denise, Forest Hills, Queens, NY Tue Mar 2, 2010

Credit score is 736. Co-signing with spouse who has excellent credit (over 800). Already have coop pre-approval, pending mortgage.

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Joseph Hasti…, Agent, Bayside, NY
Tue Aug 17, 2010
Hi Denise. Be thankful of your spouse. If you are pre-approved, why are you looking for a private mortgage lender?

Since you're rebuilding your credit (736 is quite good) and your spouse is golden, you should have no problem with a loan. Of course, you don't mention if you've found a coop to purchase. By the way, a pre-approval is not a comittment. The Lender will hire an appraiser (you'll pay for that) to make sure whatever you choose to purchase is not over-priced.

You appear to be in very good shape. Sure the bankruptcy will sit on your credit report for many years but your blended credit score with hubby should allow for a great rate. Best of luck.
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