Qualify to Buy a Home with Bad Credit! Your Bad Credit May Be Just Fine!

If you filed Bankruptcy, lost your home to Foreclosure or Short Sale between 2006-2011. Your Bad Credit May Be Good! Call Lisa Jefferson, Broker, Atlanta Homebuyers Realty, to start looking for your dream home. Consultations are free 678.480.5054.
By: Atlanta Homebuyers Realty Group
 
 
By Again after Bankruptcy, Short Sale or Foreclosure
By Again after Bankruptcy, Short Sale or Foreclosure
JONESBORO, Ga. - June 18, 2014 - PRLog -- Buy A Home After Bankruptcy, Chapter 7 or Chapter 13 Bankruptcy

If you filed a Chapter 7 or Chapter 13 bankruptcy in 2010 or earlier you may be eligible to buy a New Home or Resale Home in Atlanta Georgia.

Many families affected by the housing crisis were forced to file bankruptcy between 2006-2010. Loss of employment, reduced salaries, job relocation, death of a spouse and divorce were some of the hardships that families faced all over the country which resulted in bankruptcy filings.  http://www.qualifytobuyagain.com

The good news is, if you filed bankruptcy during this period you may be eligible to buy a new home or a resale home.

Surprisingly many people have no idea when they can buy a home after bankruptcy and a lot of Americans are asking the magic question “How long do I have to wait to buy a home after filing  a bankruptcy"?

If you filed either of the two bankruptcies you may qualify for FHA financing based on these general rules:

-  Chapter 7: The minimum waiting period for an FHA insured mortgage is 2 years after the discharge date of the Chapter 7 bankruptcy as long as you have reestablished  credit and have not taken on new credit obligations. Like Fannie Mae, however, the wait may be reduced to twelve months if significant extenuating circumstances can be documented and you have since shown that you can manage your finances well.

-  Chapter 13: It’s possible to qualify for an FHA insured mortgage while in Chapter 13 as long as at least one year has elapsed since entering into the repayment plan, payments have been paid on time, and the bankruptcy court has given  permission for you to enter into a mortgage transaction. If your Chapter 13 has already been discharged, the standard waiting period is two years, but it’s possible the waiting period could be reduced or eliminated depending on your previous reasons for filing.

If you are thinking about buying a home, you cannot have any late payments. All new credit obligations must be current and in good standing. You must be gainfully employed or be receiving indefinite disability income. You must have reestablished credit. If you would like more information about obtaining a pre-approval to buy a home after bankruptcy, short sale or foreclosure please contact us. Our firm works with several lenders who specialize in borrowers with less than perfect credit. The pre-qualification process is free and may take up to 72 hours for approval.

If you lost your home due to foreclosure or short sale call Lisa Jefferson to discuss your home buying options.
Atlanta Homebuyers Realty Group, LLC 678.480.5054
http://www.qualifytobuyagain.com
End
Source:Atlanta Homebuyers Realty Group
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Tags:Buy Home After Bankruptcy, Buy Home Again, BUy Home Bad Credit, Get Qualified Buy Home
Industry:Real Estate
Location:Jonesboro - Georgia - United States
Subject:Services
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Page Updated Last on: Feb 21, 2015
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