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,

More Help To SAVE Your Home

"Can I do a Mortgage Loan Modification myself?" The answer is yes. But find out the first question you really should be asking.

Special Edition Making Home Affordable is an overview of 13 options for homeowners struggling with unaffordable house payments.

Are you behind on your payments now? Have you received a notice of default? Don't give up. With a little knowledge, you can Stop Mortgage Foreclosure.

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

If you anticipate being late on a mortgage payment, here's help for locating your lender to Stop Foreclosure Now.

By understanding your Adjustable Rate Mortgage, you can anticipate interest rate adjustments and plan for increases in your mortgage payments.

When promises to Sell Your House seem too good to be true, remember this fact. It is possible to sell a house and remain legally obligated on the mortgage. Find out more here.

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

Here's 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. Save Your Home! Save Your Life!

How to take advantage of the current mortgage crisis to Stop Foreclosure. Learn from Donald Trump about negotiating a better deal.

Subprime Mortgage Loans fulfilled an important role in America by increasing homeownership but eventually they created a trap for home owners.

You are invited to discover why every homeowner with a Subprime Mortgage needs a long term plan.

Subprime Mortgages - Here is a long term plan I used to help homeowners transition to traditional mortgage financing.

Ask Kate About Loan Modification - Ask a question, get an answer from Kate.

Loan Modification Ask and Answer - A collection of questions regarding loan modification, Home Affordable Programs, HARP and HAMP, each with a individual answer from Kate.

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

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