1. You Need to Document Positive Credit Following a Bankruptcy.
Bankruptcy is the systems way of letting you start over.  If after you start over, you experience additional credit challenges, this will decrease your chances of getting a mortgage approval.

2. Bankruptcy Recovery Takes Time.  Usually a mortgage lender will want to see one year of on time payments following your bankruptcy discharge in order to approve you for a home mortgage.

3. You Should Not Be Treated Unprofessionally Just Because You Had A Bankruptcy.  Don't let anyone treat you like a second class citizen because of your credit. If they do, move on and find a lender worth giving your business to.

4. You Should Ask The Lender If He or She Has Experience With Post Bankruptcy Mortgages.  There is no sense wasting your time with a loan officer that does not know how to present your case to an underwriter or what to ask you for to get your post bankruptcy mortgage to comply with underwriting guidelines.

5. Know your income to debt ratio. This is one of the factors your mortgage mender will use to determine if you qualify for a loan of not.  You can use a home mortgage calulator to estimate your payments and then add that to your other monthly debt obligations. Then divide this into tyour gross monthly income to find your debt to income raio (a.k.a. DTI) which should not exceed 40%.

To get all of the information you need to get back on track and get a home mortgage after bankruptcy, order The Bankruptcy Mortgage Book today!

We wrote The Bankruptcy Mortgage Book so you can be an educated consumer. This is important in any arena relating to your finances, not just restoring your credit or buying a house. Whether you want to build your retirement, buy gold or invest in the stock market, education is your ticket to empowerment. We hope you enjoy and benefit from the book."

Once you are ready to apply for a home mortgage, visit our mortgage application information center .

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