My husband and I bankrupt last year in June08 but it was due to medical purposes. Now he has disability which

Asked by Brandy, Cartersville, GA Sun Jan 18, 2009

was approved in September and now we have 2 incomes. We've told we couldn't buy we would have to rent to own or lease purchase or owner finance could someone give me a true answer because we're in the process of looking now and we need to know which way to go. And don't know about HUD either this is our first go at this. Thanks Brandy

Help the community by answering this question:

+ web reference
Web reference:


, ,
Sun Jan 18, 2009
Hi Brandy - You need to get in touch with a mortgage professional who specializes in credit restoration. Dependant upon your current credit and area in which you are looking to purchse, you may be pleasantly suprised at the opportunities that are available to you. I have a website with information that will help you review the credit restiration process and would be happy to assist you. Please visit my site and contact me via email at with any questions.

Glad to help
1 vote
Brenda Noll…, Agent, Woodstock, GA
Thu Oct 15, 2009
Hello :Brandy,

I realize times have gotten tougher in the Mortgage business. Use to be that with a bankrutcy due to medical you could still be considered for a loan. I would talk to a local lender and have them give you the honest answer. If you need some names please let me know and I'd be happy to help.

As far as HUD homes, you can search for them yourself but you do need a realtor to make an offer. You will need a pre approval letter from your lender and earnest money before you make an offer. Most homes are as is, some have money allowed for carpet and such. You just need to talk to a lender first.

Hope this helps. Give me a call anytime. 404-312-3357

Best regards,
Brenda Noll
0 votes
Hank Miller, Agent, Alpharetta, GA
Mon Jan 19, 2009
The agents below are on target, the lending requirements have changed significantly - as they should since it was much to easy to qualify for a loan and that's the main reason we're in this market. Contact a reputable lender, it has to start there.

0 votes
Lorie Gould, Agent, Duluth, GA
Sun Jan 18, 2009
Brandy, the requirements have changed significantly over the past 12 to 18 months. Years past you could have had a Chapter 7 discharge yesterday and get a loan to buy a home today but not anymore. You really need to take the advise of the experts here and get with a good loan advisor such as a loan officer from Wells Fargo which has many programs right now. There are others also. Hearing the truth about what you can and cannot do right now will put you in a position to move forward with a purchase, a lease purchase, or a lease.

HUD foreclosures are homes that had FHA financing which were foreclosed. You still have to obtain financing in order to purchase a HUD home. I believe you are looking a 2 to 3 years from your discharge to obtain a loan these days.
Web Reference:
0 votes
Dallas Texas, Agent, Dallas, TN
Sun Jan 18, 2009
Contact a mortgage broker who can review your financial records, employment history 2 years, credit scores, debt ratio. If your are not approved request for loan officer provide you guidance for future home purchase.
Web Reference:
0 votes
Brenda Rambo, Agent, Seaford, DE
Sun Jan 18, 2009
You need to contact a good lender.
0 votes
Search Advice
Ask our community a question
Home Buying in Cartersville Zip Codes

Email me when…

Learn more