Buying A Home After Bankruptcy - Get A Mortgage Loan After Bankruptcy

Written by Carrie Reeder


If you have a recent bankruptcy on your credit and are looking to get financing for a home, there is hope. Buying a home with bad credit will just put more emphasis onrepparttar other two factors needed to get a mortgage loan, which are; income verification and a down payment.

After bankruptcy most lenders want you to wait at least 2 years fromrepparttar 111743 time ofrepparttar 111744 bankruptcy discharge before they will consider you for a mortgage loan. Afterrepparttar 111745 two year waiting period is over, you should be able to get financing easily. You should also be able to get 100% financing as well. You can usually achieve this as long as at least most of your payments have been reported torepparttar 111746 credit bureau as having been paid on time sincerepparttar 111747 discharge of your bankruptcy.

If you are looking to get a mortgage loan after bankruptcy sooner thanrepparttar 111748 2 years fromrepparttar 111749 time of discharge, you will need to have almost flawless payment history since your bankruptcy discharge. Also, you may need to have a down payment. If you have even 3-5% to use as a down payment, that may be enough to help you get approved.

There are ways to get a down payment for your mortgage besides havingrepparttar 111750 money saved inrepparttar 111751 bank. Here are some ideas of ways to do that:

1. Borrow or ask for a gift from relatives. After you have financedrepparttar 111752 house, you can usually go and take out a 2nd or 3rd mortgage up torepparttar 111753 full value of your house, and then you could repayrepparttar 111754 relatives. Keep in mind that if you intendrepparttar 111755 money to be as a loan only fromrepparttar 111756 relatives, you would need to disclose that torepparttar 111757 lender before you close. Lenders usually have regulations about whererepparttar 111758 down payment is coming from and if you are not honest, it could be considered defrauding a lender.

"Saving Money The Old Fashioned Way!"

Written by Barry Ferguson


Whatever happened to saving moneyrepparttar old fashioned way? Are we in danger of letting life's luxuries become our necessities? These are questions that have becomerepparttar 111742 forefront ofrepparttar 111743 new millennium thinking.

Do you prescribe to this theory? You may, without even thinking about it. Take a good look at your spending. Do things such as having hundreds of cable TV channels, TiVo,repparttar 111744 health club membership, and that daily latte seem like your everyday occurrences? Chances are, you have become addicted to these things, and are shelling out a huge premium for them.

But, do you really need 500 channels? Or that health club membership? How about those daily latte's?

What has happened in recent memory, is how we have been told that we need these things without even questioning it. Have you found yourself wondering about these things? There has been a subtle shift inrepparttar 111745 American way of thinking and it has taken it's toll on our pocketbooks.

How much say do you have in your everyday spending?

Do your children wantrepparttar 111746 latest video games? How about shelling out thousands of dollars to get season tickets to your favorite sports team or paying huge amounts to see your favorite stars in concert.

It seems our culture has become addicted to spending money for things that give a quick fix but do not last. It is here where we must stand back and take a good look at what we are getting ourselves into.

You probably remember hearing your parents talk about how they never hadrepparttar 111747 things we have now. Well, it's true. They didn't. But they didn't haverepparttar 111748 bills we have. They knew how to be frugal. And yet, that idea has lost it's meaning.

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