So you have been through a bankruptcy and surely have been
told to wait at least two years before applying for a home
loan. Waiting two long years without any guarantee of being
approved for a mortgage after bankruptcy can be
disheartening. Fortunately, this advice no longer holds
true.

Today, there is a growing realization of the need to offer
home loan products that are specifically designed for
borrowers with an imperfect credit or financial history.
Mortgage programs have been created especially for borrowers
who have gone through a bankruptcy. In fact, those with a
bankruptcy discharged for even one day may apply for a home
loan. That's right, if your bankruptcy was discharged
yesterday, you can qualify for a mortgage today!

Now you are probably thinking that although you are
eligible, it will be difficult to qualify. The truth is that
qualifying is much easier than you think. The fact that you
have been through bankruptcy is not even considered in the
evaluation of your credit. Any liens, collections or
judgments that appear on your credit report will also not be
used in the evaluation of credit and will not need to be
paid off.

What is important and what will be looked at is your credit
score. Now here is the good news: with a middle credit score
of 500, you are qualified to purchase a home with a 20% down
payment. Having a credit score between 550 and 579 will
allow you to borrow up to 95% of the purchase price and with
any score above 580, you are qualified for 100% financing.

With the competitive rates that are available on mortgage
after bankruptcy programs, you are able to realize the dream
of homeownership with a mortgage payment that is affordable
and fits easily within your budget. Along with the
traditional benefits of owning a home, such as equity
building and tax benefits, you will most importantly be
rebuilding your credit profile. Additionally, you may also
benefit from the current strong housing market and its
appreciating home values.

So now you know the following: that you can qualify for a
home loan today, what the credit requirements for a mortgage
are, and that you can rebuild your credit and financial life
through homeownership. Gone forever are the days of waiting
two years and living with the dim prospect of obtaining a
mortgage after bankruptcy. You have worked hard to discharge
your bankruptcy and have the fresh start that you were
looking for.

There is empowerment that comes with the knowledge that you
can purchase a home today even if your bankruptcy was
discharged yesterday. So get qualified for a home loan, start
searching for a home and begin packing those boxes!

==============================================


Ascenteum Mortgage is THE SOURCE for specialty mortgage
products including stated income loans, interest only loans,
and mortgages after bankruptcy.

For additional information, visit Ascenteum Mortgage =>
Mortgage after Bankruptcy

About the Author

Lee Seno is Director of Consumer Education for Ascenteum Mortgage
www.ascenteum.com.

Lee Seno

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Have you been through a bankruptcy? Have you wondered whether you could possibly refinance your mortgage loan or obtain any mortgages after bankruptcy? You will be pleased to learn that there are mortgage lenders that will help you obtain a mortgage loan and even save you money by lowering your monthly payments. Local mortgage lenders are ready to help you find the best refinancing package available for your special circumstances. Having to file a bankruptcy does not have to mean you are stuck with a high interest rate and less than desirable mortgage terms. Mortgage lenders will consider refinancing mortgages after bankruptcy because the risks involved in refinancing mortgages are
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