VA Mortgage 1 year after Discharge

[rmcmorran]

Hi -
I am wondering if anyone has been approved for a mortgage with the VA after 1 year of bankruptcy? I have read that it is possible if your bankruptcy was caused by things out of your control - such as high medical bills or unemployment. Both my husband and I were laid off at one time, and lead to our bankruptcy.
Any tips or ideas would be helpful!! Thank you!!!

[cocoasmom]

I have contacted several lenders about this. We have a similar situation. The response I have gotten is 2 years.

[jenopher]

Yeah, 2 years is what I got too. Even if VA will approve, the banks use their own criteria and say 2 years.

[rmcmorran]

Can I ask you what lenders you have contacted??

[rmcmorran]

I see you are in MN cocoasmom - have you tried any Credit Unions?? I heard they sometimes do approve after one year??!! Not sure if that is correct?

[cocoasmom]

No, I haven't tried any Credit Unions. I will give that a whirl. I'll let you know.

[cocoasmom]

We applied for a VA mortgage at a credit union. Response was two years plus one day after discharge.