Is there hope for me to buy again?

Angela- from what you described you are past the seasoning period for both the bankruptcy and forclosure. The easiest way to get your score bumped up to a 640 to be applicable for an FHA loan would be to pay down your credit cards below 30% of what the max limit is. For example if your credit card has a max limit of $1,000 then you would want the new balance to be under $300 when all three burueas report the most updated balance. I have a tool called credit assure which upon looking at your credit report it will get direct ways to increase your scores from each credit bureau. Once these taks are performed we then use another tool called a rapid re-score which will help those changes take place with in 72 hours which will get your score to where credit assure told you it could be. If you are interested in more help please feel free to contact me.

Angela,It sounds like you are good to go right now. I can get you FHA approved with a score as low as 600. If you are ready to proceed, please feel free to email your contact information to me at Adrin@accuratecapitalmortgage.com.

Your biggest hurdles in obtaining a loan are, credit score, credit history (lates), collections, down payment, years from foreclosure and BK and the amount of income that can be verified. So if you make x amount, you need to make sure that your new mortgage, including tax and insurance, adding in your credit card and student loan payments, can only be 45% of your income. Sometimes you can get away with 50%. So if you make 70k, $2,625 is the max all your expenses can be. If you have 3 years since foreclosure, you are ok. If within 2 years, you need a really good explanation. As for your credit cards, pay them all down. Rule of thumb on credit, keep your balances under 40% of the credit limit. Use the cards, but dont max them out. Also dont carry a 0 balance. Pay off and settle your collections. Most lenders will make you pay them anyways. Credit for conventional loans is min. 620 and for FHA you need a 640. More credit is needed for larger loans, non owner occupied ect...Hope this helps and good luck

Hi Angela:I would be glad to take a look at your report to see if there is anything we can do. Looks like you have re-established your credit since the derogatories which is great. Possible loan would be an FHA with exceptions made case by case.Angela, do you have any down payment or can obtain a gift?You are welcome to contact me.

You are doing the right things. Your time since foreclosure depends on a few factors. The general rule is 4 years past foreclosure to be able to obtain a new mortgage loan via FHA. However, there are ways to secure a mortgage before then depending on the circumstances of foreclosure.