Aug. 19, 2008
Approximately 2 million residents in the US have filed for bankruptcy between 2002 and 2003. If you have recently filed for Chapter 13 bankruptcy in the last 12 months, you are probably having difficulties getting credit approval, especially for a Bankruptcy mortgage. You may find a mortgage company that will work with you, but the mortgage rate will be a lot higher than the average mortgage rates.
Chapter 7 bankruptcy stays on your credit file for 10 years following the date that you are declared insolvent, and seven years for a Chapter 13 Bankruptcy. While many mortgage companies do not permit applicants with negative credit files, there are some FHA companies who can help with a mortgage loan after bankruptcy. This will vary with your last 12-24 month history on your credit file after the filing date and/or discharge date.
Most Bankruptcy Mortgage companies will require that you wait 12 months from the filing date for a Chapter 13 Refinance, and 24 months after discharge for a Chapter 7. You will need to find an FHA company that specializes in these types of loans. The right mortgage broker can help you find various lender who will work with your current situation. They will require you to have a reestablished credit history after your bankruptcy filing/discharge date. It's also important to review your credit report to make sure ALL the credit tradelines are being reported correctly. This maybe time consuming so it's important to apply immediately with a mortgage lender that can help you with your credit needs. Having mortgage lates during/after a Bankruptcy can have a detrimental effect on the underwriter's decision.
The most common mortgage for a bankruptcy is called an FHA Buyout. You're required to receive the Trustee's approval for this Chapter 13 refinance, and will need 12 months of timely payments. This FHA loan has helped out many borrowers to lower their overall monthly payment obligation.
Please visit our website for more Bankruptcy loan information.
Mar. 13, 2008
Why Choose Us?
We offer a wide range of Charlotte home mortgage loan solutions.
We specialize on all Charlotte mortgage broker loan types.
We promise to provide you with the best Charlotte home mortgage terms.
Because our representatives are Charlotte mortgage loan experts, and can help you with making the right decision.
We offer Charlotte home mortgages to those with past bad credit problems (foreclosure, bankruptcy, judgments, and collections).
We search investors for the best available Charlotte home mortgage products and mortgage rates.
We have the best Charlotte mortgage rates for all credit grades in North Carolina.
VA Home Loans & FHA Home Loans
Fixed Rate Mortgages
Refinance Cash Out for any reason
Super Jumbo Mortgages
Home Improvement loans
FHA Secure programs
Interest Only Loans
FHA Reset Program
Bad Credit Mortgages
Fresh Start Mortgages
Zero Down Loan Programs
1st Time Home buyers
North Carolina Mortgage Broker
FHA Bankruptcy Buyout
FHA loan with No Credit
Current Home Mortgage Rates
Mar. 6, 2008
FHA Loan limits have gone up today for most of the United States.
The bottom limit is now $271,050, and some areas have gone up to $729,750.
Make sure to check current FHA mortgage rates to see if this may lower your current mortgage rate.
FHA Home loans have been around a long time, and have been helping millions of 1st time home buyers.
FHA mortgage refinances have been helping many homeowners to get out of high rate ARMs.
Mar. 2, 2008
Current VA loan rates have lowered to 5.5% - APR 5.89%
This is really good news for veteran borrowers who are looking for a VA home loan.
A VA mortgage loan can assist many homeowners with a no down payment, and also for those that need a bad credit mortgage.
VA home mortgages can assist a 1st time home buyer or 2nd time home buyer. You're can use the VA home loan as many times as you move to a new home, and not currently using it.
VA home refinances have also been helping homeowners that are in 2/28 ARMs, and those that have been looking for a low VA mortgage rate. You're also able to do a VA streamline refinance (IRRRL) if you currently have a VA home loan.
Charlotte Home Mortgage Loan
Feb. 12, 2008
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