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Mortgage After Bankruptcy???

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I have a chapter 7 on my credit reports that is going to expire in about a year and a half in march '09. I have been disputing it but they havent been deleted yet. I would like to purchase a home before then and was wondering if decent mortgages are still available to me since it was so long ago and is almost expired? (Just in case I cant get it deleted)

I also have some other negatives and inquries that havent been deleted that are over 4 years old so I guess this question would apply to them too? I really found a great place and want to make sure I can get it. BTW, my scores are around the mid 600's with TU only having 1 negative besides the BK, and Exp being the worst, still having 8 negatives that are old but still negative. Hope that helps.

Thanks to all!

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You should be fine with your scores in the mid 600's to get a good rate. Your BK doesn't matter as long as it has been 2 years from discharge date AND you never included a house in with the BK7 that was foreclosed on. Then you would need to wait 3 years.

Sounds like you are good to go. :)

As long as the other accounts are old and you have established new credit that you have been making your payments on time, you should be okay.

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Something that you may want t keep in mind is that any underwriter worth their weight in gold is going to see lates after a BK as a red flag, no matter how long ag your BK was. It says, "you didn't learn your lesson" so to speak. Depending on the type of loan that you apply for, it may be a deal breaker, but something that you should be prepared for. Being that your BK is so old and your derogatory credit is kinda old as well, your LO should have you write a letter of explanation explaining what caused you to have the lates after the BK and how you are so much more responsible now.

Something else to consider: when you go to apply, make sure that you CR is as clean as possible. Make sure that all tradelines that were included in the BK are marked as such. I always advise my clients to make it easy for the underwriter to approve you.

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