grandpax5

Bankruptcy friendly mortgages

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Fannie Mae is bankruptcy friendly once you are 2 years from the filing date and it's been discharged. Freddie Mac is bankruptcy friendly 2 years from the discharge date.

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Anything FHA. Went FHA through National City in March of this year with 2.5yr old BK7 and no issues.

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I would suggest that you work with a broker, as there are some that have investors/lenders that will allow them.

The problem with coming up with a list is that things are still rather nuts in the mortgage industry for any programs that are "outside of the box". I know of a lender that a month or 6 weeks ago came out with a 100% program of 620 FICO scores and bank statment income. Last week the program dropped back down to a 95% program.

If you go to a broker and are approved, have them lock the loan when you are about 20 days from being finished. Only when it is locked is the lender REALLY commited to provide the product. If it is a program that is not normal, your broker can not take the loan to someone else, so, get the approval to be firm. Reason that I say 20 days when a lock is 30 days is because if the program disappears the lender can drop their feet so that they don't have to honor the deal.

Lessons learned from that great school, UofHK.

Charles

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