A bankruptcy filing delivers a blow to your credit and FICO score, but it doesn’t mean you have to wait 10 years before you can qualify for a mortgage. In fact bankruptcy is an effective tool to clean up your credit in some cases.  Consumers who have filed for bankruptcy are able to obtain a mortgage, although you have to build good credit after the bankruptcy is filed.

Give Loans for Homes a call today and ask how we can help you improve your credit score -303-300-7000.  We understand-we don't judge. 

While credit card companies may care about what happened before you filed for bankruptcy, many mortgage lenders are more interested in your recovery — what you’ve done since your filing. It won’t happen over night, but here are some tips and things to keep in mind when you inquire about a mortgage with a tarnished credit past:

Many people who file bankruptcy swear off credit altogether, however, it is important to re-establish your credit rating. Get a secured credit card or take on some sort of loan — furniture, a car or a major appliance — to demonstrate that you are able to make timely payments. Make sure you are making other payments (utility bills, cell phone, etc.) on time as well. You won't turn things around in a year but your credit score will improve over time.

Dispute any credit report errors. There’s no need to add to your troubled credit history with errors on your credit report. Get a copy of your credit report from each of the three major credit reporting agencies: Equifax, http://www.equifax.com; Experian, http://www.experian.com; and TransUnion, http://www.tuc.com. If you encounter any errors, inform the CRA in writing what information you believe to be inaccurate and request deletion or correction.

Get Professional Credit Help.  Ask a Loans for Homes Inc. representative about credit repair services of our partners companies.  Call now 303-300-7000.

Save your money. Lenders may be more willing to loan you money if you’ve saved up a considerable amount of money for a down payment.

Live within your means. Even subprime lenders won’t risk loaning you money for an opulent oceanfront mansion. Think small when the time comes to look for a home. Smaller homes often mean smaller mortgages.