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Chapter 7 bankruptcy. Leslie Tayne, attorney and founder of Tayne Law Group in Melville, New York, says you’re eligible for a mortgage a few years after a Chapter 7 discharge of debt.
There’s typically a waiting period after bankruptcy before applying for a new loan, including a mortgage. The length of the waiting period depends on what type of bankruptcy you filed for.
Improving your credit score is one of the best ways to get approved for an auto loan after bankruptcy. To raise your score, prioritize paying your credit card bills and other loan payments on time ...
Rebuilding credit post-bankruptcy is quite doable with patience and the right steps. Read on for proven ways to start fresh and regain strong credit. How to Get Great Credit Again After a Bankruptcy
The fixed-rate mortgage was the first mortgage loan that was fully amortized (fully paid at the end of the loan) precluding successive loans, and had fixed interest rates and payments. Fixed-rate mortgages are the most classic form of loan for home and product purchasing in the United States. The most common terms are 15-year and 30-year ...
Type of bankruptcy. What it means for you. Chapter 7. Often referred to as liquidation, this type of bankruptcy means selling off your non-exempt assets to repay your debt.
Loans may also be categorized by whether there is full documentation, alternative documentation, or little to no documentations, with extreme "no income no job no asset" loans referred to as "NINJA" loans. No doc loans were popular in the early 2000s, but were largely phased out following the subprime mortgage crisis. Low-doc loans carry a ...
A credit builder loan is a product designed to help people re-establish credit after going through a significant event like bankruptcy. It lets you borrow a small amount of money and build credit ...
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