We filed for chapter 7 a year ago to protect our assets. Although we have a decent income, we can’t get financed to buy a cheaper house. Last year our combined gross was 150s. The year before that was pretty much the same.
Now, we found a cheaper place to live in, as of now, we’re paying $2100 for our mortgage. Actually, we found 2 houses that we like, one 50k the other 100k. I’d like to get financing for either one. I know with Chapter 7, we can’t get an FHA loan for the next 2 years. But my mother has a newer credit, 615 FICO, I believe. Also, I own a small biz that I’ve been filing taxes for about 2-3 years now. Our personal credit is 620 for myself, and 640 for my wife. Also, we live in IL and properties are in IL.
Is there anyway to go about this situation?
Thanks!