Anyone know a lender that will provide a mortgage for someone a few months after receiving a Chapter 13 discharge with 20% down? Thanks.

Asked by jdeaton17, Green Cove Springs, FL Wed Jan 23, 2013

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Sandi Baxter, Agent, St Augustine, FL
Sat Jan 26, 2013
With 30 yrs in this business and more than 12 as a Senior Mortgage Underwriter, there are no exceptions permitted to the two year waiting period after a Chapter 13 discharge....Normal conventional lenders are bound to the FNMA and FHLMC standard guidelines. Even a larger portfolio lender will eventually may want to sell your loan and they are only saleable if they meet these guidelines. I would suggest a "relationship opportunity" with a local bank or private investor or seller financing. MANY local banks and credit unions will make "exceptions" for their customers if they have a block of money for mortgages that they retain and service ..... For private lenders or seller financing remember this old phrase.....Your terms - MY price.....You will have to pay a higher price or interest rate. We are realtors who can shop the private market for you.
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Thanks for the answer...that is why I posted this question. I know this request does not meet the normal guidelines and I am aware that a higher price or interest rate would most likely be necessary. What I need to know is where to find a lender that will entertain this situation. Thanks!
Flag Sat Jan 26, 2013
Your Solar R…, Agent, Silver Spring, MD
Wed Jan 23, 2013
Try your local credit union and Naval Federal Credit Union.
just a try.
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thelendingte…, Mortgage Broker Or Lender, Clearwater, FL
Wed Jan 23, 2013
Yes, many lenders allow this. On a chapter 13, we use the filing date Not the discharge date provided the filing date was over 2 years ago. You will need a pay history on the chapter 13 from the trustee and a copy of the filing and discharge, but this can be done.

I would be glad to discuss your situation as no one has the same set of circumstances.

Andrew Kashella
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Stephen McRo…, Mortgage Broker Or Lender, Tampa, FL
Wed Jan 23, 2013
see below

2) 100% LTV- USDA - 12 mo. into Chapter 13 BK…OK Too!
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Stephen McRo…, Mortgage Broker Or Lender, Tampa, FL
Wed Jan 23, 2013
Below are some of the best programs from A to Z available, including the all new Stated Income Alt Loans for Self Employed borrowers

After reviewing these programs below, please email me at with the ones you'd like more info about:

1) 100% LTV- VA - pay off debt at closing on a purchases too!

2) 100% LTV- USDA - 12 mo. into Chapter 13 BK…OK Too!

3) 99% LTV- FHA

4) 97% LTV- NEW- No PMI -No FHA 1.75% MIP Fee!

5) 95% LTV- NEW-No PMI!

6) 95% LTV- NEW-CONDO Loan

7) 90% LTV- NEW-No PMI -2nd Home

8) 90% LTV- New-Jumbo w/cc

9) 85% LTV- NEW- No PMI to Super Jumbo

10) 80% LTV- Rental Property

Stated Income Alt Loan programs

11) 80% LTV- to Super Jumbo

12) 80% LTV- FIX n’ FLIP Invest. Prop. – No min. credit!

13) 75% LTV-to Mega Jumbo

14) 75% LTV

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