Mortgages After Bankruptcy: Easier Than You Would Expect

Give yourself time to rebound. Whether you had to turn to bankruptcy because of a divorce, a medical emergency, a job loss, or a problem spending habit, give yourself a little time for the air to clear before house hunting. Mortgage lenders will want to see that you have put some space between you and your money troubles. You can use the time to start saving for your down payment.

Fix the root problem first. Figure out where your money troubles started and patch up the leaks. If you wound up in court because you couldn't control your credit card spending, resist the urge to rack up new debt after your bankruptcy discharge. Mortgage lenders won't help you if you appear to be repeating the same bad cycle. Pay your rent on time for two years. Do whatever it takes to get your rent to the landlord on time for twenty-four consecutive months. If you miss a month, the clock starts again from zero. Therefore, chop out anything in the budget that could set you back from your dream of a fresh mortgage. If your landlord doesn't report to any of the major credit bureaus, that's okay. Just get a dated receipt for every rent payment, which you can use to prove your case to a mortgage underwriter.

Save up a twenty percent down payment. With all the no-money-down mortgage offers you see on television, it sounds almost antiquated to stash a huge chunk of money into savings. In reality, a solid down payment proves to a mortgage lender that you're serious about overcoming your past problems with money. A large down payment will also reduce your monthly mortgage payment and save you from paying high priced default insurance on your loan.

Work with a live human being. Don't let a computerized scoring system stand between you and your mortgage. Because mortgages are secure debts, many lenders stand ready to compete for your business, despite your past credit history.

Mortgage lenders, especially those with branch offices in your neighborhood, can perform a "manual underwriting" process where they examine documentation like your rent receipts and your bank statements to show that you have truly overcome your past problems.

Kevin Adelsberg is a writer for FasteMortgage.com. For additional articles and an extensive resource for everything about mortgages, please visit us at http://www.FasteMortgage.com

Home Equity Loan ? Home Theater Adds Fun and Value

In days gone by, the family typically spent their evenings watching television in the den... Read More

Poor Credit? Get a Sub-Prime Mortgage Now, and Refinance to a Conventional Mortgage Later

There are great mortgage loans for people with poor credit, and yes, you can still... Read More

Home Loans: Where Do I Begin?

So you've finally decided you've had enough of paying rent and want to jump into... Read More

Homeowner Loans - Whats Available?

It isn't difficult to get a homeowner loan if you own your own home, hundreds... Read More

Who Could Benefit From A Reverse Mortgage?

What is a "Reverse Mortgage?"Also known as a Home Equity Conversion Mortgage (HECM)a reverse mortgage,is... Read More

Home Equity Loans - How To Use Your Homes Equity to Consolidate Debt

If you've got a wallet full of credit cards, and monthly payments on them that... Read More

Reverse Mortgages ? a Reversal of the Mortgage Process

Mortgages have assumed a number of characters from the time of their inception. The traditional... Read More

Know Your Mortgage Fees, and Youll Never Pay Too Much for Your Loan

If you buy new windows, you'll not only pay for the windows, you will also... Read More

Choosing The Right Buy-To-Let Mortgage

Buy-to-let took off during the 1990s with the increasing availability of specialist mortgages tailored towards... Read More

Kings Bay Georgia Mortgage Information

When choosing the right mortgage company for your home purchase or refinancing, there are a... Read More

Save Yourself from Homebuying Disasters

Whether you are a first time home buyer or a happy home owner who wants... Read More

The Power of a Home Equity Loan to Pay Down Debt

Households across the country are finding themselves in a similar situation. They lack the financial... Read More

What Length Mortgage Is Right For You?

You've found the home that is right for you, and now you need to do... Read More

A Home Equity Loan - What You Should Know?

Asking yourself, "Is a home equity loan right for me?" is the first and most... Read More

Selling Your Business Note

Before I go further, let me ask a question- if you won the lottery tomorrow,... Read More

Mortgage After Bankruptcy

Most people probably assume that obtaining a mortgage to purchase a home, refinance or to... Read More

Debt Counseling ? Healing Touch for the Ailing Finances

The financial stories remain similar over the months and the years. With debts becoming a... Read More

What is a Self-Certification Mortgage?

A Self-Certification mortgage is a mortgage designed for people who are unable to provide proof... Read More

Home Equity Loans - Are They Right For You?

The bills are out of control and you need a new car. "Maybe we can... Read More

What is a Flexible Mortgage?

'Flexible mortgage' is a term that's used a lot, but what exactly does it mean?... Read More

Refinancing Your Home Mortgage Loan

You're considering refinancing your home mortgage loan to save money. Interest rates are the lowest... Read More

Online Mortgage Brokers - What You Might Not Know About Home Loans & The Internet

You may think that applying online for a mortgage is the same as applying with... Read More

First Time Buyers Fail To Shop Around

Almost two thirds of first time buyers accept the first mortgage they are offered and... Read More

Need a Mortgage, Refinance or Equity Loan? Learn What it Takes, Before Applying

Do you know what it takes to qualify for mortgage and refinance loans? There are... Read More

Escrow Accounts, Do You Absolutely Need One?

With escrow accounts the money for your home insurance and property tax is added to... Read More

Bad Credit Mortgage Lenders - Things You Should Know About Subprime Lenders

Interest rates and fees vary between subprime lenders just like regular mortgage lenders. Just because... Read More

Best Buy to Let Mortgages

Are you looking for the best buy to let mortgages with the lowest rates payable?... Read More

How Good a Deal Is Your Banks Mortgage Insurance Plan?

When you go to the bank to get a mortgage, you'll inevitably be asked to... Read More

Zero Down Mortgage Loans - Is 100% Financing a Good Idea and Can You Get Approved?

Are you wondering if you can get approved for a home loan with 100% financing?... Read More

Applying Online For A Home Loan Can Give You an Instant Approval

"Instant Approval For Home Loans" is a common refrain for online mortgage lenders, but sometimes... Read More

Preventing Foreclosure Proceedings and Understanding Your Options

Every year over 8 million homeowners are seeking help preventing foreclosure proceedings. This is a... Read More

Home or Investment Property Equity: Be Sure the Bank Gives You All that You Deserve

Home equity is your own personal money machine. If you want financial freedom, a home... Read More

Some Mortgage Loans are Available with Absolutely no Money Needed From You

Today, FHA will loan up to 97 percent of the purchase price of a home,... Read More

A Personal Mortgage Experience

I don't know what the mortgage situation is around the world but here in England... Read More

The Top 5 Reasons to Buy a Home

1. Save on your income tax.Yes, something good can come out of income tax. Due... Read More

Who Else is Ready to have Their Money Work Harder for Them?

What does it mean to refinance? Why would anyone want to consider it? There are... Read More

Mortgage: For Those Twilight Years

Tracing back, the concept of reverse mortgages began when one good soul, Nelson Haynes of... Read More

Five Things Never To Tell Your Mortgage Lender When Facing Foreclosure

1. Never discuss your household finances over the phone with the collection department. What you... Read More

How I Became a Hard Money Lender

Unlike other investors, my venture into real estate was a natural extension of my secondary... Read More

Refinancing and Car Finance - Is it worth it?

Refinancing and Car Finance - Is it Worth It?No doubt you have heard of refinancing... Read More

Remortgage To Release Equity By Improving Interest Rate

You have been paying on your mortgage for quite sometime and you think that your... Read More

Essence of Self Certified Mortgages

Your search for a mortgage isn't leading results.Check for any impediments. May be the lenders... Read More

Bad Credit Mortgage Refinance - Should I, Shouldnt I?

It is a common financial scenario across households in the Western world. Multiple debts have... Read More

Securing a Cheap Home Improvement Loan

Finding a cheap home improvement loan can be a challenge at times, but the extra... Read More

Sell Your Home and Invest at the Same Time

I continue to see the same For Sale signs in my neighborhood. The houses just... Read More

Home Loans

Buying a home remains the great American dream. Home ownership rates have been exploding in... Read More

Zero Down Payment Mortgage ? Can It Be Done?

"I've been renting for years now; I've always paid my rent on time. I'll start... Read More

Home Mortgage Interest Rates: How to Compare

Whether you are looking to purchase your first home, sell your current home and purchase... Read More

A Guide to Getting a Home Improvement Loan

If you've got a few things around the house that you'd like to spruce up... Read More

What Your Mortgage Lender Is Not Telling You About Accelerated Mortgages

For years, mainstream banks and financial advisors have been recommending that you pay extra cash... Read More