Friday, May 11, 2012

Buying a House After a Bankruptcy

Can someone get a mortgage after a bankruptcy? Yes they can! And they only have to wait 2 years from the date that the bankruptcy was discharged.

The most important thing is that they "re-establish credit" after the bankruptcy. That means no late payments of any kind (including collection accounts) for the 12 months preceding the loan application date.

What are the down payment requirements for people with bankruptcies? They are that same as they are for anyone else: just 3.5% of the purchase price for FHA loans.

What are the interest rates for people with bankruptcies? They are the same as they are for anyone else.

Getting a loan approved is easy - if you know what to do. The Mortgage Experts know what to do!!!

Make sure you check out our web site:

By the way, don't forget to refinance your current mortgage. Rates are very, very low right now. Don't miss out! Call us today to get the details for your particular situation.

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