Is it posiable to get a loan with some lates after bankruptcy

Underwriters are very particular, and their #1 pet peeve is Derogatory credit after a BK... if those lates were recent, then it's going to be tuff to explain it to the lender where they would approve you.. If the BK was years ago, and the lates were a few years ago, then it's possible.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Possible depending when the BK was discharged, when the lates were and what type of accounts were late.

You need a clean payment history for at least the last 12 months...maybe longer.

Minimum 12 months clean payment history although most lenders will require 24 months of clean payment history. I assume you are referring to a Chapter 13.

I agree with Joe. PLUS, any late payments on credit would need explained. Underwriter discretion would be used. The underwriter would be looking at the picture that your loan officer paints.Picture #1: Your bankruptcy was due to financial mismanagement and you have collections for abc and xyz companies. You write a letter stating the reason is that you didn't feel like paying them. Obviously that picture would put any underwriter in high risk decision mode. Picture #2: Your bankruptcy was due to a death or illness. The late payments were with medical collections and you could provide proof if you had to showing how you've been working with the creditor and your insurance company in an effort to make sure the account was paid. That'd be a more comfortable or more favorable situation.If I can help answer any other questions let me know.Regards,Kimberly Lawson Licensed Ohio Loan OfficerPhone/Fax: 888-659-3848EMAIL: kimberly.Lawson@fpfmail.com Licensing: NMLS: 5601 OH.LO.004495.000 First Priority Financial, Inc. "Where Open Minds Close More Home Loans"748 N Court St Ste 201 Medina, OH 44256 MBMB.850147.001 NMLS: 3257 We are an equal opportunity lender.

Maintain a clean record for 12-24 months for best results.

Each situation is different but in my experience no.

Possibly, but plan on a 12month clean record. One of the variables is how long after a BK were the lates and was it a Mortgage late. Get with a Lender411 loan officer to discuss you situation.

Yes it is; however, it depends on how old the bankruptcy is and how recent the lates. Another variable is the reason for the lates following the bankruptcy. As referenced by several others, at a minimum you need the most recent 12-24 months credit history with no lates and clean credit. Good luck on your journey for a home loan.

It's very important for you to keep a clean credit history after you were granted the bankruptcy. You may need to wait for 12-24 months before applying for a mortgage. Your responsibility is to show an underwriter that you are willing and able to repay a loan. So far, you have not done this.

Yes, but it depends on how long you have been discharged or dismissed. Many lenders WILL NOT accept lates within 24 months so you need to contact local broker (Find a Lender tab) as they will have investor relationships that would onsider your deal.

yes it is, but alot more information is needed

Generally 24 months after the discharge

Generically speaking, yes... But with that said, no one hear can answer that question directly. We would need a full application and a review of your current credit reports to see your overall picture.

No. With chapter 7, there must be no lates within the previous 24 months. With chapter 13 it's 12 months from the filing date (not discharge date).

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