Be Aware Of This Rule After A Bankruptcy…

Good Morning!

There’s a general rule in the mortgage industry about getting a mortgage after a bankruptcy.

…The rule is that the underwriter will want to see at least 3 trade lines that were established after the bankruptcy – each with at least 12 months of history. …and, good history – no lates.

However, with every rule there is an exception…

I just closed a loan on a borrower that only had 1 reestablished trade line after a bankruptcy.

My point here is – don’t give up.

…If a loan officer is telling you they can’t help you – let me take a look at it for you.

I just might be able to find a way to “gitter done”.

Thanks for reading – and have a safe weekend!

Brett