Improve Credit Rating After Bankruptcy

by Future Home Buyer from Florida

Regarding Improve Credit Rating After Bankruptcy: 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?

Kate Answers: Improve Credit Rating After Bankruptcy

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.

In the past, 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,

Ask Kate how to get the best mortgage rates
Ask Kate

More Help to Save Your Home

Special Edition Making Home Affordable - 13 options for homeowners struggling with unaffordable house payments.

Loan Modification Ask and Answer - Answers to loan modification, Home Affordable Programs, HARP, and HAMP questions.

Can I do a Mortgage Loan Modification myself? The answer is yes, but...

Don't give up. With a little knowledge, you can Stop Mortgage Foreclosure.

Foreclosure Help - Act now if you think you are going to be late on a mortgage payment.

Help for locating your lender to Stop Foreclosure Now.

By understanding your Adjustable Rate Mortgage, you can anticipate and plan.

When promises to Sell Your House seem too good to be true, remember this.

A limited offer, Mortgage Debt Relief provided help for homeowners subject to additional income taxes.

How to explain to your lender that you are trying to Prevent Foreclosure.

The first step to stopping Foreclosure is understanding its impact on your life.

Stop Foreclosure. Learn from Donald Trump about negotiating a better deal.

Subprime Mortgage Loans fulfilled an important role in America.

Every homeowner with a Subprime Mortgage needs a long term plan.

Subprime Mortgages - Learn how to transition to traditional mortgage financing.

PS What if you could turn YOUR dreams into reality? Now you can. This is MY story of dreams coming true.

Return from Improve Credit Rating After Bankruptcy to Get Your Best Mortgage Rate

Click here to add a comment.

You can also ask Kate about your mortgage at How to Improve Your Credit Rating with Amazing Success.

Recent Articles

  1. International Mortgage Financing Directory

    Jul 04, 18 08:53 AM

    An international mortgage directory that includes overseas loans and foreign currency financing. Remember to compare and consider all offers carefully.

    Read more

  2. Interest Rate Lock - Future of Mortgage Rates

    Jul 04, 18 06:46 AM

    Interest Rate Lock - Hi Kate, Should I lock in my FHA loan at 5.75 percent? My wife and I had figured on a lesser rate but do not want to get stuck with a mortgage rate even higher than that.

    Read more