Bankruptcy

The mortgage professionals at AzTex understand that a bankruptcy filing delivers a devastating 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. Many consumers who have filed for bankruptcy have been able to obtain a mortgage, although it is often at a higher rate than someone qualifying for a prime or "A-paper" loan.

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.  The next step is to be pre-approved.  Please complete the on-line application by clicking here.  This will begin the process.

Lenders will consider explanations. No mortgage lender is going to ignore the fact that you’ve filed bankruptcy and he or she will likely want to know the cause of the filing.

Lenders will want to see how you have good money habits now. 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.

Review your credit reports and dispute any credit report errors. There’s no need to add to your troubled credit history with errors on your credit report.

Demonstrate that you are able to 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.

Take the first Step.

Let AzTex Mortgage help you through this process. 

As a first step in the please complete the questionnaire below.