| Daniel.Gustafson@insightbb.com 2006-02-27, 10:21 pm |
| Need a 100% Financing after Bankruptcy?
Here are the facts.
It's true, you can obtain 100% Financing after Bankruptcy and in
today's complicated world of Financing, it pays to know the facts.
There are hundreds of nationally known Lenders who offer 100% financing
but all have different guidelines and requirements. I hope that after
reading this article, you will have a better understanding of the
requirements and guidelines to better prepare you for an approval.
It is possible to get 100% Financing One Day out of Bankruptcy but you
will need to have some established credit for approval. Lenders will
want to see a history of Credit Lines that have been paid as agreed and
it is best to have at least one current trade line that has been opened
for at least 6 months with a limit of $2500.00 or more. In addition,
Lenders like to see two positive credit lines in your past that were
opened at least 24 months. If you have not re-established your credit
after bankruptcy, do so, you'll find that this will raise your credit
score and make you a more favorable candidate to the Lender.
It is amazing but there are Lenders who offer 100% Financing 1 day out
of Foreclosure. Once again, there are minimum trade line requirements
that determine your eligibility.
If you have been turned down, don't give up. Find out why. Ask
questions and get a copy of your credit report to find out why the
Lender is not accepting you. Most importantly, take action. There are
many companies who offer secured Credit Cards after Bankruptcy and
these are a good way to raise your credit score. Timely Payments on
these will also make you look more favorable to the Lender.
It is also very wise to find a Mortgage Broker or Financial Specialist
that you can trust. These professionals can help guide you on what to
do and direct you to the Lender who may best loan money with your
current situation.
I hope that the above information has been helpful and informative.
Should you require information on possible Loan Scenarios, please visit
my web sight at www.geocities.com/loanseeker3034/index.html to find out
more. You will find the web site informative and it has many links to
other sights that will address raising your credit score.
Respectfully
Daniel Gustafson
Loan Specialist
Sunset Mortgage LP.
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