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How does bankruptcy affect qualification for a mortgage?

April 26, 2017affect Bankruptcy mortgage qualification

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How does bankruptcy affect qualification for a mortgage?

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Depending on the circumstances surrounding your bankruptcy, generally some lenders would consider providing mortgage financing.

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Lenders will require a bankruptcy to be fully discharged. Many want to see at least 2 years history after discharge along with some sort of re-established credit before they are willing to provide mortgage financing. If you are newly discharged, there could be options available for you with a significant down payment. Remember once you are discharged; start re-establishing your credit ASAP! Secure credit cards are a great way to get started. Contact one of our mortgage professionals to help you get on the right track.