Do I have to wait?

If I have a credit rating over 650 and have a BK one year out. What are my option of purchasing investment fixer upper. I do own a home and very little equity.
I’ve been told I have to wait 2 years after a BK.

Thanks T.J.

Howdy TJ:

Quit waiting right now. You can do hard money loans to finance your deals. Most will lend 79% LTV and even 100% of the costs sometimes especially if you have a good enough deal. If you want to wait until he BK is two years old you will get better rates but probably still hard to get short term bank loans.Most mortgage companies do not lend on major rehabs. There are a few govt programs but full of red tape.

Hard money lenders are your best bet for fast easy closings. I have done 4 loan deals and am still in a 4 year old chapter 7 case and in a chapter 13 personal BK case for a year. Not released or dismissed or nothing. Currently active, yes active all you doubting Thomas I can not do a deal because of my credit and I must wait BS. Quit looking for excuses why you can not do deals and go do them. I sat around my house 4 years thinking I could not do any deals. If only I had believed I could I would. When you know beyond a shadow of a doubt you can, you will. I am saying you can so now go get a deal. If you need more help ask some more questions of this wonderful forum where there are plenty of answers.


There is a load of sub-prime lenders that will lend $ after your BK has been discharged for only a day. There is no reason you should wait if you have a deal where the #s make sense!!!

good luck,