get bankruptcy discharge papers
Mortage banker help!?
I have been told by several banker that getting a loan 2 years form a file date on a chapter 13 bankruptcy is possible. My friends credit score is 640 and has rebuilt credit,,,she filed chap 13 in 2002,,,she has been at the same job 13 yrs,,she has been pre approved by the bank now is waiting on the under writter to approve,,,is it still going to get approved? Or at the last minute can they say NO loan? She has all the papers from the court saying she has OVER paid the courts, and is satisfactory and her plan is done and in a zero balance,,She is just waiting on her discharge papers,,to be mailed to her,,but the bank told her they really did not need discharge papers,,is all this really possible for her,,Oh she lives in Indiana,,help for a great friend! SHe is very very nervous to hear from the underwritter,,she makes 61,000 a yr is all that look good to the inderwritter? Any advise,,this is her dream…thanks for your time!!
They can say no at any time, but if she’s done all that and improved her credit picture so much they probably (hopefully) will say yes. Remember, they want to make good loans to people they think will pay – thats how they make their money. So they’d really like to lend her the money if they think she is a good risk. Sure the bankruptcy has hurt her (and they will certainly charge her a higher interest rate because of it) but it was a long time ago and from what you’ve said it sounds like she’s really made up for it alot.
So, they can say no, but I suspect they won’t. Best luck.
