How Long Does It Take After You File Bankruptcy To Buy A House?
What are the best ways to improve our credit post bankruptcy without getting credit cards? Any advice would be appreciated. We are young (in our late 20′s) and my wife lost her job about 3 years ago and our income dropped $50,000 a year which caused us to file bankruptcy.
November 3rd, 2009 at 9:38 pm
I’m going through the same thing right now and I’m being told that you should wait 2 years from the discharge date. It also depends on what you have done to reestablish your credit since the bankruptcy. It never hurts to speak with a mortgage company to see what the specific requirements are now that there has been a crack down on mortgage lenders.
November 4th, 2009 at 4:36 am
It’s going to take longer then before, with the new laws concerning lending, fewer and fewer companies are going to be willing to loan to higher risk customers.
November 4th, 2009 at 6:20 am
The only way to improve your credit is to obtain new credit and build a record of managing it responsibly. A car loan, credit cards, even a store or gas card. Start with a secured card if you must.
November 4th, 2009 at 10:52 am
Win the lottery and buy it with cash. But don’t fall for those emails that say you have already won a lottery.