So your bankruptcy case has been over for a few years. You did the hard work. You saved and followed a budget and rebuilt your credit with a car loan and responsible credit card usage.
Good for you!
Now it is time. The big leap. Time to buy a home.
I know a lot of people out there that think buying a home after a bankruptcy case is an impossible task. I promise, it isn’t. It can and has been done. MANY MANY TIMES.
The best part, I am here to help!
A lot of our clients call looking for documents and information on buying or refinancing a home. We are happy to help out with giving you stuff that you may have misplaced but here are a few pointers for being ready without a call to my office.
1. Keep a copy of your discharge somewhere safe. YOU WILL NEED THIS. Under no circumstances will you refinance or get a new mortgage without this document. Put it somewhere it won’t get lost or destroyed.
2. Keep the copies of your schedules that were provided to you when you did your credit counseling. They will include the list of all debts and JUDGMENTS that were discharged. Many times, the title company will come back wanting to know what the deal is with a judgment that flew under the radar and never got removed from the county record. This schedule will clear it up quickly. If you need a copy of a certificate of service showing notice let us know and we will get it to you. In rare cases, we may need to do a motion in state court to remove it. Call us or have your real estate attorney call us if this issue comes up so we can move quickly.
3. Do not be afraid to call us if something seems off or funny. If I have one more client call me and tell me they can’t get a mortgage refinanced because they never reaffirmed their original mortgage my head may explode. The mortgage companies are trotting this one out a lot these days. Let me be clear. If you have made your payments they have a payment history and can clear you on that. There is and never will be a need for you to reaffirm that mortgage. On top of that, judges in New Jersey are EXTREMELY hesitant to sign reaffirmations of mortgages. This is excuse no. 802 for a mortgage company to deny you for no apparent reason and is mostly commonly seen in refinancing applications. CALL ME. I will write a letter or talk to the person that needs talked to about this and help you clear it up.
This goes for anything that seems off yo you. If it seems related to your bankruptcy case just call us. We are happy to address questions and issues that your case may bring up in a later real estate closing.
Happy closing! If you need us call us! We can get out documents or refer you to a good real estate attorney.
Concerned about your financial situation and owning a home someday? Give us a call at 732-302-9600 or fill out our online consultation for me and we will call you!