No. of Recommendations: 0
I am in the same boat as you. I declared bankruptcy in 9/98. I will tell you that your chances of getting a mortgage are going to be slim to none. I have read recently that the FHA has issued directives that their organization should not consider bankruptcy a disqualifier if it happened more than two years ago. I haven't tested the waters recently but last November I was turned down by 6 sub-prime lenders because of the BK. Our house is in my wifes' name and we had to use her credit to get the house. We recently(5/2001)re-fi'd and the lender would not use my credit because of the BK. So, my experience is that even though the FHA has this directive, most lenders won't touch me.
I did get a car loan and it was again with a sub-prime lender. I have paid aggressively and we are ahead of payment schedule on all of our loans, but that did not make any difference. Ny BK is an automatic disqualification. I hope you have better luck but, please be aware it won't be easy.
Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.