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Considering a new mortgage loan after bankruptcy

The housing market is becoming increasingly appealing to many aspiring homeowners. Now that the economy has been recovering steadily for a few years, mortgage rates are low, but new construction and buyer interest is picking up. However, the idea of buying a home after bankruptcy can seem daunting for many Americans. Is it smart to pursue a new mortgage loan in the wake of bankruptcy? And what can you expect from the process? These are both reasonable questions.

Building credit post-bankruptcy: Part II

Earlier this week, we began discussing the idea of building positive credit. We noted that a bright side of bankruptcy is that it allows you to build solid credit and a firm financial foundation after you have eliminated or restructured the burden of crushing debt. First, it is important to receive your annual free credit score from all three major credit reporting agencies. Once you have your baseline score, you can work at improving it.

Building credit post-bankruptcy: Part I

The stigma once associated with filing for bankruptcy has faded dramatically in recent years. When the 2008 financial crisis swept America, millions of responsible and hardworking citizens were affected significantly. As a result, American society largely recognizes that every one of us can unexpectedly fall on hard times, no matter how diligently we plan and how financially responsible we are.

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