| Having a bankruptcy on your record can create | | | | Individuals with poor credit ratings due to |
| financial a hardship for anyone considering a mortgage. | | | | circumstances such as bankruptcy are considered a |
| Having a recent bankruptcy closes the doors for you | | | | greater risk for lending; as a result this risk is passed |
| with certain mortgage lenders; however, it is possible to | | | | on to the homeowner in the form of higher interest |
| find competitive mortgage financing even with a recent | | | | rates and fees. Mortgage interest rates are still at |
| bankruptcy. Here are tips to help you find the financing | | | | historically low levels, it is possible to find competitive |
| you need. | | | | interest rates even with a recent bankruptcy. |
| It is possible to find a mortgage after your bankruptcy | | | | In order to avoid overpaying for the financing on your |
| is discharged; you can even secure financing the day | | | | new mortgage, you need to do your homework and |
| after your bankruptcy is discharged. The catch is the | | | | research mortgage lenders. There are a number of |
| more recent your bankruptcy is the higher your | | | | mistakes homeowners make when shopping for a |
| interest rate and fees will be. You will also have to | | | | mortgage; these mistakes result in higher interest rates, |
| choose a mortgage lender that specializes in | | | | fees, and points required when closing on the loan. You |
| mortgage lending for your situation. These lenders are | | | | can learn more about your mortgage options, including |
| called "Sub Prime" mortgage lenders and specialize in | | | | common mistakes you need to avoid, by registering |
| mortgage loans for individuals with poor credit. | | | | for a free mortgage guidebook. |