Is there any possible way to get a mortgage?

[filingsoon]

I'm only 3 months out of BK, I want to get a place before the first time homebuyer's credit runs out.

My debt to income ratio is now 14% (taxes and student loans)
I have someone who will cosign who has an 800 FICO score, long work history and more equity in her house than what the condo I want is worth.
Is there any possible way to get a mortgage and qualify for the credit?

Would I be better off trying to get a mortgage through a local credit union?

If anyone has any opinions I would appreciate them!

[Flamingo]

If all people fresh out of Chapter 7 were able to get mortgages, Chapter 7 filings would be through the roof. You know your chances are next to zero at this point as you have to reestablish yourself over a few years as creditworthy again and not as a risk. While you are now debt free and feeling good, you will have to deal with the consequences of filing and that does not go away for a while. I would suggest asking the lawyer who handled your filing for some references to brokers that he/she has probably worked with for people who have filed. That is one of the best sources to start to glean information as to what you can and cannot do. Best of luck to you...

[nc73]

Nope.

[HHM]

Short of a personal friend, family member, or hard money lender loaning you the funds, a mortgage is not going to happen this soon out of BK, even with a cosigner.

[Logan]

If you were a bank would you lend 100K+ to someone who just went through chapter 7?

[jeb]

If you were a bank would you lend 100K+ to someone who just went through chapter 7?

Well, let's look at it.

Before BK, most had a ton of debt and virtually no cash flow.

Post BK, most have NO debt and solid cash flow.

Add in the fact that after a BK, one can not file again for many years.

Seems to me a post BK would be a very good risk. - jb