We just had a bankruptcy discharged. Is there a gov't backed program that would help us get a mortgage now?

Asked by Scottfryman84, Parker, CO Mon Sep 2, 2013

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Joanne McGui…, Agent, Peoria, AZ
Mon Sep 2, 2013
BEST ANSWER
I just closed on an fha loan with my buyer 10 days after discharge.

You can contact me for more info
1 vote
Just curious on how this took place for your buyer and which bank funded the transaction? Guidelines read that a bankruptcy has to be seasoned for 24mo before FHA is an option....
Flag Mon Sep 2, 2013
Jennie Miller…, Agent, Phoenix, AZ
Tue Sep 3, 2013
There may be some loan programs out there that can help you but they will require a larger down payment and a higher interest rate as well. Have you spoken directly with a lender?
1 vote
Manny Caball…, Agent, Gilbert, AZ
Tue Sep 3, 2013
If your discharged bankruptcy is 12 months or order then YES! you could qualify for FHA loan.

The guidelines have changed again.
FHA changed the rules, now only 12 months waiting period for BK, Foreclosures, Short Sales. At All Western Mortgage, HUD opens financing for borrowers, call us now.

New FHA rule:

Borrowers are eligible for financing 12 months after BK, Short Sale, Foreclosure, and Deed-in-Lieu*

Old FHA rule:

Borrowers must wait 36 months for financing after BK, Short Sale, Foreclosure, and Deed-in-Lieu

​
"Manny"
Manuel Caballero III PLLC, Broker, CSSPE
http://proactiverealestateadvisors.com/
1 vote
Laurel Zakula, Agent, Phoenix, AZ
Mon Sep 2, 2013
1 vote
Gregory Suit…, Agent, Phoenix, AZ
Mon Sep 2, 2013
Id suggest you consider a lease to own rental-it helps build equity----and lets you get through a cure period on your credit scoring---to reduce your payments without any equity building---and gets you a lower rate for life of loan in ownership period.
call me for further information----

Gregory Suiter
Realtor
Homesmart
602-410-3329
1 vote
Raoul Lousta…, Agent, glendale, AZ
Mon Sep 2, 2013
Hello Scott , i don't think so but you need to speak with a lender ; i know they just came out with a program for one year out of bk,short sale and foreclosure but you have to show proof that the reason for it is because of a catastrophic change in earnings more than 20 percent

here are a few good lenders
Carlos Morales Alterra home mortgage 6027577716 or 6029057598

Juan Marquez Office (800) 453-7884 Cell: (623) 337-7558

Ray Strahl Amerifirst Financial 480.344-1983 (Telephone) | 623.341.7614 (Direct)
1 vote
Bianca Benne…, Agent, Glendale, AZ
Fri Sep 6, 2013
Please call David K - 480-326-2659
0 votes
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