do i have a chance??
Posted 04 February 2004 - 01:23 PM
i am one year post bk ch 7. i am a single mom of one, recently divorced. i make $42k per year and am looking to buy a townhome for $142k. I have been at my job for 4 yrs. I only have 1 car payment of $288, 1 cc of about $18 per month, and student loan of $122 per month. My ex-husband has a truck that i am on as a joint loan but in the divorce decree states he got the truck, it is $489 per month. Will the truck count against me to qualify? The guy selling the townhome says it shouldnt be a problem. This is a new construction and he also said i could go with CHAFA which is the Colorado Housing Authority for my down payment and my loan. My scores are 640, 609, and 589. Do you think i will be able to get a loan? He states my payments would be about $900 per month which i could afford. Any imput would be appreciated...Thanks,
Posted 05 February 2004 - 02:24 PM
I remember what it was like being a single mom so if I can help in anyway, let me know.
Posted 06 February 2004 - 05:37 PM
Posted 06 February 2004 - 06:38 PM
i am one year post bk ch 7. i am a single mom of one, recently divorced. i make $42k per year and am looking to buy a townhome for $142k. Normally, being only one year post BK will preclude you from going either conforming or government guaranteed. There are subprime lenders that will lend you one year post BK and the rates will vary from about 7-9%, depending on several factors.
Sorry for being slow to get back with you. Look in your post for the answers.
Posted 06 February 2004 - 07:25 PM
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