Seattle

[Cherie]

Hi, we are interested in buying a short sale condo and we had a bankruptcy that was discharged in May of 2011. Our credit score is good although we have one loan that is a few months old that is for a truck and it is current on the payments.. We both work and have an income of about $90,000 per year.Husband's worked in same business for 15 years and wife, same for 2 years. We have a down payment and would love to work out a deal on this condo since the owners are very eager to sell. The property is at 2201 192nd st se bothell 98012. What are our chances of aquiring a loan for around $170,000? Soon.

[Danny Murillo]

 I am not sure if you are saying that your bankruptcy is recent or not. The best option is talk to a loan officer to run your numbers.   I would be happy to refer to some great lenders I work with to determine your eligibilty.  Give me a call or email and I can send you there contact information.  

[Cherie]

Thank you for your reply. Our bankruptcy was discharged in May 2011, but we filed in January. I would like to talk to some lenders if you know any that do sub prime lending. If we don't do anything soon then we will wait until spring 2012. We are working with an agent whom we are loyal to, although if we were to find a lender on our own that's a good fit we would certainly go that way. Thanks, Cherie

[Debra Hamilton]

When you say you are working with an agent - is that a Realtor or a lender?  Do I understand that you filed for your BK in January 2011 and it was finalized in May 2011 - was that a Chapter 7 or a 13?    You should talk with a lender first to see what your time frame to purchase a home will be with the Bankruptcy.  I don't believe there is a sub prime lending market any longer.