Bankruptcy article written by Columbia, SC attorney Daniel Stone
Most of my bankruptcy clients are in need of a new house at some point after their bankruptcy discharge. I am often asked when they can qualify for a mortgage post bankruptcy discharge and who they should use as an agent. First, new federal regulations are making it easier to qualify for mortgages post bankruptcy discharge. Some debtors will be able to qualify as soon as 12 months after receiving their bankruptcy discharge. Make sure you inform your mortgage loan processor of your prior bankruptcy filing. Please also see my other blogs on this site for ideas and tips on obtaining a higher credit score after bankruptcy.
Second, if you currently have a real estate agent or know of one you feel comfortable with, stay with that real estate agent. However, if you are looking for an agent in the Columbia area, I recommend two real estate agents – Brent Downing (381-8950) and Earnest Moore (781-0021).