Barclay's going to close my account.

[iswmle]

I apologize, Tobee, which statement are you referring to?

[tobee43]

oh, no! i sorta read your post incorrectly about the good credit part. it's just interesting how these lenders apparently pick and chose whom they want to lend to. i think that was my point.

logan got his mortgage and really he's the only i know. it's GREAT! i was just saying.

[iswmle]

Typing from iPhone, so don't mind typos...

It is all good, Tobee, and I do agree with you that Logan is an exception to the rule. Honestly, my only real drive to improving credit is the ultimate goal of buying a home. We are hoping to achieve this goal within the next five years, and in the meantime I am doing everything that I can to avoid the situation that I was previously in. I am concerned about my chances of qualifying for a mortgage... We have even played with the idea of the mortgage being only in husband'a name (we are technically not married). We have a nice savings, and I imagine that will grow... Things have improved since 2010 for me, but this BK cannot fall off soon enough for me.

[tobee43]

or! have him co-sign! we were told my the FHA we could do that 2 years after bk. who knows if that has changed, everyday there is something new with this. one hears 4 years after or 3 years after that. true is, it's entirely up to the lender. they don't five a pigs behind about what any FHA guidelines are. we started with owner financing. totally by passed the banks. paid that home off in three years and just purchased our other home this past dec. all without using any banks! but i know our situation is just as unusual as logan's

i think the lenders will start loosening up within the next few years, shoot with all this inventory it's crazy! they have to do something! you'll have another home one day. it took us a few plus years to get here. time passing is the "key".

[Logan]

Typing from iPhone, so don't mind typos...

It is all good, Tobee, and I do agree with you that Logan is an exception to the rule. Honestly, my only real drive to improving credit is the ultimate goal of buying a home. We are hoping to achieve this goal within the next five years, and in the meantime I am doing everything that I can to avoid the situation that I was previously in. I am concerned about my chances of qualifying for a mortgage... We have even played with the idea of the mortgage being only in husband'a name (we are technically not married). We have a nice savings, and I imagine that will grow... Things have improved since 2010 for me, but this BK cannot fall off soon enough for me.

IMO there was nothing special about me obtaining a mortgage. I was able to fill all the boxes regarding credit, income, assets and the property also met all needed requirements. The lender required 4 years out of BK and I was over 5.
I think Tobee wanted a loan for 30K and couldn't get it. It's been a while since I was in the mortgage business but I recall small mortgages like that could be tough to get--maybe that has something to do with it?