These guidelines are outlined by the mortgage note buyers and mortgage note investors called the secondary money market..
Most all your banks, to include your larger ones, eventually sell their mortgage loans to mortgage note buyers, or investors called the secondary money market. The sell your mortgage note in order to be able to borrow more money to lend.
Once a mortgage loan has closed, a mortgage lender would want this mortgage note to be in a position to be sold and not held as a liability of the mortgage lender or bank.
You might consider applying for a mortgage loan through a mortgage lender that is authorize to do government mortgage loans such as FHA mortgage loans. There are times when a government mortgage loan has less stringent approval requirements than a conventional mortgage loan.
I hope this has been of some benefit to you,good luck.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"
If you could save $100,000 in 2-4 years you should have been able to pay your creditors rather than filing bankruptcy. A lender would be foolish to give you money at this time as you appear untrustworthy.
Contact a mortgage broker.
Talk to a mortgage broker as some can finance after two years.
100k saved up after only 3 years after bankruptcy - remarkable?
Probably not to be perfectly honest. Local credit union maybe.
yes there are, but you will end up paying a higher rate. just call around.
I had a bankruptcy chp 7 (2011) and a foreclosure with a notice of sale on July5, 2012. Credit scores are 725, 696, and 681. We have about $100,000 saved up for a down payment, 25%. I've tried the big ones, Chase, Bank of America, etc. and they say 3 years from foreclosure. Are there any lenders that would work with us?
