Home Mortgage

Is there a mortgage company that will loan money just out of bankruptcy for a new home purchase?

Posted by admin on July 19, 2010 Leave a comment (5) Go to comments

Hi Joan,

Depends on which state you live in.

home mortgage bankruptcy

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5 Comments.

~Trey July 20, 2010 at 12:57 am

Hi Joan,

Depends on which state you live in.
References :
Mortgage company owner
http://www.treybio.com
Darren Meade July 20, 2010 at 1:07 am

Hello –

Yes there are mortgages companies that will loan money after a bankruptcy and depending on the trustee, we have been able to help those during a BK.

Here are some quick guidelines:

100% LTV For Borrower One (1) Day Out of Chapter 7 BK

Borrowers In Open Consumer Credit Counseling (CCC’S) To 100% LTV

Open Forbearance? How About LTV’S Up to 80% With "B" Pricing

No Score Programs with LTV’S Up to 90%
on Owner/2nd Homes With LTV’S Up To 90%, Including 1 4 Family And Condos
No (NIC) and Limited (LIC) Income Check Programs To 100% LTV

The most important factor will be to show stability and ability to pay the mortgage. Given that you just came out of a bankruptcy you will want to make certain you do not lock yourself into any prepayment penalties. The reason being that 10-12 months after you get this new loan, your FICOS will have risen greatly and you will be able to refinance yourself into a much lower cost loan.

Depending on your state, the prepayment penalties can be very expensive to non existent.

Hope that helps, and please let me know if I could be of any further help.

Kindest Regards,
References :
http://victorylenders.net Darren Meade is a Local and National Mortgage Expert
Mike Moiner July 20, 2010 at 1:13 am

Yes, Lordsman Financial in Costa Mesa, CA. specializes in these types of loans. Their # is 888 677-5423. They helped me get into a wonderful home.
References :
Mortgage Planner July 20, 2010 at 1:41 am

Most Definitlely. Depending on what the rest of your credit looks like, we can do a loan 1 day out of Bankruptcy. Bankruptcies are not as negatively impacting as they were 10 years ago. Again, it does depend on what other credit you have – meaning Positive/Good credit. Give us a call, we will be happy to help you. Premier Home Mortgage 760-244-2424.
References :
john d July 20, 2010 at 2:20 am

Have a look here.
References :
http://www.mortgage.jims-info.com/