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mortgage lenders after bankruptcy

mortgage lenders after bankruptcy - News

Bankruptcy May Not Be Best Option for Unsecured Mortgage Lenders
After the real estate crisis, with the steep decline in property values and an oversupply of properties, many lenders have begun to entertain short sales — sales to which the lender consents even though its debt will not be paid in full. However, some

The Tale of the $8 Million 'Bargain' House in Greenwich
But it ended up in the hands of his neighbor, Richard A. Baker, the chief executive of the firm that owns Lord & Taylor and Saks, who snapped it up for $8 million after Mr. Fuscone had to declare bankruptcy in 2010. In the competitive insulated world

Ally CEO Sees IPO Road Show in the First Half of This Year (1)
Ally Financial Inc., the auto lender bailed out by the U.S. government, may start a road show for an initial public offering as soon as this quarter as the U.S. Treasury looks to shed its ownership, according to its chief executive officer. The

The Gadfly of Greenwich Real Estate
Mr. Fountain includes in his gallery plenty of lesser-known people pushed into bankruptcy after overreaching, borrowing millions to build 15,000-square-foot houses that no one wanted to buy. Mr. Fountain's contention that the legal and financial

Qualify for a Home Loan Even after Bankruptcy. For more information, call or visit our experience brokers at: Flagship Financial Group 1621 South University Dr., Suite 225 ...

Ask an Attorney: How long does it take to rebuild credit after bankruptcy?

Answer: While the task may seem daunting, it’s absolutely possible to rebuild your credit score following a bankruptcy. In fact, when handled properly, many people can achieve a credit score of 700 or more within two years.

The process of rebuilding your credit will take patience and dedication, but it’s one of the most important steps to correcting your financial situation. You don’t need a sterling credit report or the highest score possible, but you will need to make improvements to increase your score — and loan-worthiness — going forward.

Having a low credit score can make qualifying for a loan of any kind (including credit cards, car loans and home loans) difficult. Even if you’re approved, your interest rates are likely to be high, which can lead to more debt down the road.

10-30 days after discharge

Check your scores

You’re entitled to a free FICO credit report from the three major credit reporting agencies once a year. You can request all three from , over the phone at 1-877-322-8228 or by mail.

How to put your financial life back together after defaulting on student loans

To make sure you don't leave federal loans out of the process, use the National Student Loan Data System ( ) to identify every loan you've taken out. If you miss some of your loans, consolidating won't solve your problems.

As you consolidate your loans, be sure to ask for a payment plan that will reduce your payments to fit your income. This is called income-based repayment. A person with a part-time job, for example, may end up with tiny payments each month. Borrowers will no longer be considered in default once the loans have been consolidated, White said.

If you have already consolidated your loans in the past, and defaulted, you are probably going to have to follow another option. You will have to go through a process called rehabilitation .

You do this by contacting the servicer, the entity you probably see with an 800 number on your student loan bills. With paperwork in hand, you specifically ask the servicer to put you into the official rehabilitation process with payments that are based on your income. To find what is considered affordable for your income, try this calculator: . Doing the calculation before calling your servicer will equip you to be an advocate for yourself. Sometimes servicers aren't helpful, but you can hang up and try again.

Finding a mortgage lender after bankruptcy?

Hi Everyone, my husband and I went through a ch 7 bankruptcy that has been discharged for a year now. We'd like to buy a home in the next 6-9 months and I am currently trying to educate myself on how to do it.

Go to and on the right hand side is a link for ChurchHill Mortgage company. They have lenders that have home loans that are really even based on your credit score.