Re: foreclosure and bankruptcy

Posted by Janie on December 01, 2004 at 21:10:56:

In Reply to: foreclosure and bankruptcy posted by Terri on November 26, 2004 at 19:30:13:

You can get a mortgage, but it will probably be sub prime or even a hard lender, which means you pay through the nose.

If you absolutely sure you have no way out and foreclosure and bankruptcy are eminent, then if it were me, I would file BK before the Notice of Default is filed.

Having the BK on your record is not nearly as bad or foreboding as the foreclosure and BK.

Q: What are the chances of getting a new mortgage after bk and foreclosure if it comes to that?

Follow Ups:

• Re: foreclosure and bankruptcy - ROBERT WILKINSON 10:03:11 01/21/05 (0)
• Re: foreclosure and bankruptcy - ROBERT WILKINSON 09:54:35 01/21/05 (0)

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Comments:
: You can get a mortgage, but it will probably be sub prime or even a hard lender, which means you pay through the nose.

: If you absolutely sure you have no way out and foreclosure and bankruptcy are eminent, then if it were me, I would file BK before the Notice of Default is filed.  

: Having the BK on your record is not nearly as bad or foreboding as the foreclosure and BK.


: 
: Q: What are the chances of getting a new mortgage after bk and foreclosure if it comes to that?


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