Buying a Home When You’ve Declared Bankruptcy

Buying a Home When You’ve Declared Bankruptcy in the Past

What is Bankruptcy?

Types of Bankruptcy

Getting a Mortgage After a Bankruptcy

Fannie Mae (conventional)

FHA

VA

USDA

Rebuilding Credit After Bankruptcy

Credit DOs

  • Make payments on time
  • Monitor your credit score
  • Keep some credit lines open
  • Close store cards
  • Open a credit card if you don’t already have one
  • Limit credit card use
  • Set up automatic alerts for credit cards
  • Set up automatic payments

Credit DON’Ts

  • Close accounts before applying for a loan
  • Close your oldest credit cards
  • Open multiple cards at the same time
  • Pay below your minimums on credit cards
  • Transfer a balance to an account with a lower limit
  • Neglect any kind of bill
  • Procrastinate
  • Make late payments

Don’t Lose Hope!

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