Should I wait??

[berta1985]

We filed a Chapter 7 in 2004...It is due to drop off credit report in November 2014...My husband and I want to buy a home...is it best to wait till then? Or how long should we wait? Will our scores go up significantly after its off of credit report? Is their a way to get BK off before 11/14?....Sorry for all the questions!! Ty for your help in advance

[LadyInTheRed]

Welcome to Bkforum!

I moved your post from the before the discharge, Chapter 7 forum, to the after the discharge, mortgage after BK forum.

There is nothing you can do to remove your BK any earlier.

I don't know whether waiting will make a big difference to your score. Perhaps others will have more insight on that.

I do know that people get mortgages before the BK drops of their credit reports. The terms may be better and you may find more lenders willing to lend to you after it drops off. You might want to talk to an experienced mortgage broker for advice. Regardless of the experience of others, the only way to know for sure what you will qualify for is to apply and see what terms you are offered.

[df04527]

You can try to dispute them, they *might* remove. Your score will rise, could be upwards the last 15-20 points when they are removed. I would wait to try for a mortgage until they are off.

[Scott50]

The majority of lenders will not give a mortgage until two years after your discharge with acceptable credit score and a decent down payment.

[berta1985]

Thank you for welcoming me to the BK Forum and for your insight it was very helpful....Have a great week!

[WTH12345]

No down payment with VA Loan though...