I plan on applying for a mortgage loan and had a foreclosure and bankruptcy 2 years ago…?

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I’ve got a few some personal loans, a car loan (already paid) and 1 credit card (paying full). I have made all my payments on time, with rent and utilities.Will I be able to get a (65k) loan? Thanks!

5 Comments
  1. Reply
    Roger M
    February 11, 2011 at 5:08 am

    not a chance

    why would anyone loan you money when you have proven you don’t pay your loans back.

  2. Reply
    chatsplas
    February 11, 2011 at 5:08 am

    Difficult if not impossible for you to get loan these days. You’re facing the natural consequences of your poor financial decision-making. Doesn’t hurt to try, but underwriting is much tighter and I think until it’s 5-7 years out from your meltdown, that there’s NO chance. So keep up the good work of building your credit by paying on time, paying off credit card and car. Keep your debts low and in time you can do this, IF you persevere.

  3. Reply
    A D
    February 11, 2011 at 5:55 am

    Might be difficult. I think FHA might allow with 2 yrs after discharge on a bankruptcy, but I don’t know about the foreclosure. Conventional financing I think requires 7 years after discharge of a bankruptcy.

    Won’t hurt to ask, I would do an informal inquiry first. Don’t want a rejection on your credit report.

  4. Reply
    HondaChick
    February 11, 2011 at 5:56 am

    if it has been a full 2 years you should be able to get another mortgage

  5. Reply
    acermill
    February 11, 2011 at 6:16 am

    Not going to happen in this mortgage climate. You need to wait at least three more years before attempting to gain a mortgage. You’ve demonstrated a complete inability to honor your financial commitments, with BOTH a foreclosure, followed by a bankruptcy.

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