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Originally Posted by Veterans Day
Your in a bad spot, regardless of what a broker tells ya. Conventional is definately out, FHA would require those debts be paid before securing a loan and subprime lenders may also do the same, all while raping you hard on loan terms. Clean your shit up before even thinking about looking for a loan. Your going nowhere fast. Not to be rude, but its the truth. I no longer have any financial incentive to lie or tell ya you can get a lon, unlike a broker look for another payday  |
of course it would not be not be a conventional, or FHA loan, however, underwriters (institutional and noninstitutional), have now set up many guidelines in FL to securitize loans that will NOT rape you as badly as was once the case.
I would NOT reccomend filing BK, and if you really work on fixing your credit over the next several months, and then the first two years of the loan, you can refi and get good terms.