What to say if credit application asks about old bankruptcy

[Epiphysis]

I have emerged from an old bankruptcy (more than 10 years), have no more negative information on my credit reports, and have established and maintained good credit since my bankruptcy was discharged. I am unsure, however, of how to answer on any future credit application or home mortgage loan if asked if I have ever had a previous bankruptcy. I know that it is fraud to falsify a credit application, and would not do so, but am concerned that if I do indicate a previous bankruptcy that it will ruin my chances of ever buying another house. What should I do in such a case?

[willingtocope]

Actually, you can get a mortgage 2 years post discharge. After 10 yrs, you should have no trouble at all. They'll still probably want PMI, depending on your down payment, but you should be able to get a mortgage. Be truthful.

[Denita]

On the mortgage app it usually asks if you have filed Bk within the last 7 yrs. Just answer all questions truthfully and you will be ok.

Here is the mtg app that is used almost exclusively throughout the industry (there are others, but it is rare): https://www.efanniemae.com/sf/formsdocs/forms/pdf/sellingtrans/1003.pdf

[jq26]

Agreed. I've successfully been on three mortgages since my 2004 discharge, once in 2007, once in 2009, and once in 2010. Every time I have checked YES for BK and no one has even questioned it. The bank forked over the cash at their best advertsied rate after income, asset, and credit report verifications.

I would not lie. BKs are easily searchable. Even after 10 years. As a federal public record, it takes about 30 seconds to do a free search. You don't even need a social security number.

Besides, it won't impact your deal if you are truthful anyway. +10 years is ancient history.