need help w/ everything......

Hello everyone , i need help bad, i took a bad turn last year and had to claim bankruptcy i lost everything house toys etc. any everyone is telling me i’m getting a fresh start over??? or is this B.S …I want To get into buying homes, wholesaling them … but would first like to buy a home for me and my family and maybe then get into the rentals and wholesaleing… i live in southern nj, any help would be greatly appreciated. Thanks BigShem


There are many programs for people in your situation.
Generally, because of the bankruptcy, your rate will be higher.

To most lenders, it matter most now is what has since you filed bankruptcy more than what caused the filing. I hope this helps.

For the subprime market, they look at what you’ve done in the last year so your rates are going to be higher. For the prime market, it’s the last two years so you may be able to get a better rate once the bankruptcy is more than two years ago.

In a sense it maybe be better because you can’t claim bankruptcy again very easily.

thanks fellows, i haven’t done anything credit wise. In the last year, should i try to get credit first,or would it be safe to try to apply for a mortgage. i figured my intrest would be higher but that doesn’t bother me right now but i don’t want to go broke trying to get ahead… thanks again :o ???


I think you should go ahead and try to apply to see where you are. If nothing else, a good mortgage officer will be able to tell you what you need to know to better your situation. I hope this helps.

Keith , thanks for the info, i’ll try it the worst they can say is no right…lol again thanks BigShem