Improve Credit Rating After Bankruptcy

by Future Home Buyer
(Florida)

I was recently divorced and because of the debts of my spouse I unfortunately had to file bankruptcy. Needless to say, my near perfect credit went through the toilet and I've been left picking up the pieces of my life.

I'm doing better now, but I had to leave a beloved home in my old state to come to a new one with a new job. I've been living in apartments and leased homes for the last few years and with my new job and the current market, I am ready to buy a new home.

The problem is my credit; what is the best way to rebuild it for a home purchase, and how long will it take?




You Can Improve Your Credit Rating


Dear Future Home Buyer,

Most mortgage lenders will require at least two years to pass after a bankruptcy. However these are guidelines, not rules and not laws. I worked for many lenders and eventually owned my own brokerage before I retired. That's how I know many factors can influence a mortgage loan approval.

On my website here, you will find many tips to improve your credit rating.

How To Fix A Credit Score and Fixing Bad Credit will lay a great foundation to gaining back your perfect credit.

It sounds like you are through the hardest part now. While you are improving your credit history, here are some tips for buying a house. Congratulations!

Best Wishes,



Your Online Mortgage Advice Friend

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The information you obtain at this site is not, nor is it intended to be, a substitute for financial, real estate or legal advice. You should consult an attorney, accountant, lender or real estate agent, as applicable, for advice regarding your individual situation. Comments and opinions found here are not necessarily those of Get-Your-Best-Mortgage-Rate.com.

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