I have checked with my local bank that does rural devlopement loans,income limits have increased,78000 for family size of 1 -4.That is great,but they say 3 years out of bk now,has anybody else found out something different on the 3 year deal??I did check with 2 banks also,same story.I am in MO.
-
-
I just asked a similar question last week. It looks like it is 3 years, BUT apparently there are lenders out there who are willing to lend to those with very good credit history 2 years post-BK discharge. Just have to find them! -
I wonder how people are getting them sooner then 3 years.I am not having any luck.Comment
-
The banks have recently tightened up their criteria again within the last couple of months. Also on May 1, 2009 the new appraisal standards have gone into effect for any loan that is going to be sold to fannie mae. Usually freddie mac adopts the same standards that fannie has, but it takes a little longer for some reason.
You would be successful if you found a lender that has portfolio type loan product (doesn't sell their loans). That is very rare these days....unless you are with a small local or regional lender.Filed CH 7 9/30/2008
Discharged Jan 5, 2009! Closed Jan 18, 2009
I am not an attorney. None of my advice is legal advice in any way..Comment
Comment