Does anyone have any suggestions as far as applying for a mortgage after a bankruptcy? My husband and I filed for bankruptcy last year. We were discharged on December 1, 2008. We live in SC and the company he works for is about to downsize and he’ll probably lose his job in September. But if he transfers to Delaware he’ll be able to keep his job so that’s probably what we’ll end up doing. We’ve been looking at homes online but haven’t been able to find many rentals that fit our needs. But we did find a great home, with 2 rental units for 5,000. So I was curious …

1. What kind of chance do we have of being approved for a mortage (in the 3K-5K range) so soon after bankruptcy?

2. In applying for a mortage do they take the rental units into account? (They’re both being rented right now for 0 a month each)

3. Can anyone suggest any websites or banks we should apply to?

Thanks for any help

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I filed bankruptcy about 4 years ago and my credit has been raising slowly. I pulled my credit report and found two medical collections against me that were not mine. I contacted the proper people and they agreed to remove them. Only one was removed and I have been trying for 6 months to get the other off. I have a letter stating they both were to be removed, but when applying for a mortgage online they pull my credit report and see a collection against me.
My debt to income ratio is pretty low so I sould qualify for a home purchase loan, but I have been turned down by my credit union.
Who offers home loans for people with credit problems?

Technorati Tags: applying for a mortgage, bankruptcy, credit report, debt to income ratio, home loans, home purchase loan, medical collections