Cities We Serve 

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Reality

Most times when a person thinks he cannot buy a home do to credit issues, things are NOT as bad as believed. Therefore we suggest you give our Home Loan/Credit Experts a call to find out. Even if we cannot find a loan today from our over 4500 loan programs, we will give you an exact plan and time table of when you CAN buy the home of your dreams.

Call: 336-753-0844

  
Searching for a great deal? Use our link for a free listing of HUD homes. These homes were foreclosed and listed to sell!

Chapter 7 & 13 Bankruptcy Recovery,

 Credit Repair While Still In Chapter 13

If you have paid your Chapter 13 Mortgage for 12 months or more on time, as agreed and have 12 months of rental/mortgage history showing no lates, then we should be able to get you into a mortgage right away. We have put together a program that allows those who have filed a Chapter 13 Bankruptcy to Recover there lives and credit in 12 months. ( Some restrictions may apply )

If you have filed a Chapter 7 there is a chance you can buy a home the day after your Chapter 7 is finalized.

Call for details and read on as to some things you can do to help yourselves Recover from the ordeal

Call  336-753-0844

BANKRUPTCY, FORECLOSURE AND BAD CREDIT

 RECOVERY & REPAIR

To recover from BANKRUPTCY, FORECLOSURE OR BAD CREDIT Your Mocksville NC VanDyk Mortgage has put together a list of things that can be done to quickly restore your credit enough to be able to qualify for a mortgage and has lined up several lenders that will assist you in getting a REAL ESTATE MORTGAGE in as little as 1 day after your Chapter 7 or 13 with your approved credit after a BANKRUPTCY. With scores of 640 or better (at the time of this writing though programs are subject to change ) there are programs that will allow you to get 100% REAL ESTATE MORTGAGE Financing to purchase a home. Our job is to get you qualified as soon as possible.

There are simple things you can do to re-establish your credit after a REAL ESTATE FORECLOSURE, BANKRUPTCY or BAD CREDIT to salvage your score Through the REAL ESTATE BANKRUPTCY process.

1) Don’t include all your revolving credit card accounts in your BANKRUPTCY OR FORECLOSURE. This is a great way to salvage your Credit Score. Carry a credit card w/ the Highest Available Credit, that you have had the Longest, with the Lowest Balance on it. Don’t include it on your BANKRUPTCY.

2) After Chapter 7 or 13 BANKRUPTCY, take out 3 secured Visa or Master Cards w/ a Savings in Loan or Credit Union over $1000.00. This is the amount generally accepted as a “Major Credit Card Account”. Withdraw the entire secured amount. ( $1,000.00 ) Keep the funds out for one week and then pay back $700.00 to each of the credit cards. This will leave you with 3 Major Credit Cards all w/ 70% Available Credit.

3) Become a signer on a relative's credit card. For this to help you will need a relative who has had a perfect payment history, with a high available balance typically $1,0000.00 or more, that owes less than 30% of the available Credit and has had the card for 24 months or longer. The longer they have had the card the better the score.

4) Never speak to a creditor or collection agency. Let the current lender/mortgage broker who is working on getting you a mortgage tell you what they want you to do if anything and then do what they ask AT THE CLOSING TABLE. Most Collection companies re-register your collection once they know you are wanting a mortgage to make you deal with them. When they re-register the collection it "hits" your score again negatively. This can knock you out of programs that may be available for you today.

Under the present system even after CHAPTER 13 OR 7 BANKRUPTCY OR FORECLOSURE your score should pop in two to three months after you have done the above

Medical Residency, Doctors, Teachers,

 Firemen, & Policeman

Many times those who serve us the most end up needing special programs to help them out of bad credit situations. Doctors and those in the Medical field as well as Teachers, Firemen and Police Officers are some who we have developed special programs for. Those who we call in the "Service Industries". Call us and let us discuss how we can help you. 336-753-0844 

Develop Good Habits

Not spending more than you make and saving for a rainy day is still good advice. Next keep good records and a list of ALL the accounts included in your BANKRUPTCY. Misreporting of accounts is ramped. You do not want to speak to or contact any of those accounts again. Usually when you do they reactivate your delinquent account and it then counts against your score AGAIN.

The single most important thing a REAL ESTATE MORTGAGE LENDER looks for before and after BANKRUPTCY IS “HOW DID YOU PAY YOUR RENT OR MORTGAGE.” Keep canceled checks if you rent and even if you let everything else go into BANKRUPTCY try and keep from allowing your REAL ESTATE MORTGAGE to be thrown in or even late on a payment.

Listed below is further general information on BANKRUPTCY AND FORECLOSURE

A BANKRUPTCY OR FORECLOSURE 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 Home Loan. Many consumers who have filed for BANKRUPTCY OR A FORECLOSURE have been able to obtain a REAL ESTATE HOME LOAN, 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 OR FORECLOSURE, many REAL ESTATE MORTGAGE LENDERS are more interested in your recovery what you’ve done since your filing. It wont happen over night, but here are some tips and things to keep in mind when you inquire about a REAL ESTATE MORTGAGE with a tarnished credit past:

After BANKRUPTCY Give explanations. No REAL ESTATE 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. Your lender will be particularly interested in whether the same situation could happen again. Your chances of being qualified are much better if your BANKRUPTCY was caused by a single event such as a loss of employment or a death in the family, than if it was the result of just spending too much.

If the BANKRUPTCY OR FORECLOSURE resulted from a single event  such as a divorce, it is important to show your lender paperwork describing the incident, such as the layoff notice, divorce papers or death certificate. You may also want to bring in court documents to indicate when the BANKRUPTCY or FORECLOSURE was filed.

After BANKRUPTCY OR FORECLOSURE Demonstrate good money habits. Many people who file BANKRUPTCY swear off credit altogether, however, it is important to re-establish your credit rating. Get a secured credit card or take on some sort of loan furniture, a car or a major appliance to demonstrate that you are able to make timely payments. Make sure you are making other payments (utility bills, cell phone, etc.) on time as well

After BANKRUPTCY OR FORECLOSURE save your money. REAL ESTATE MORTGAGE LENDERS may be more willing to loan you money if you’ve saved up a considerable amount of money for a down payment.

Click Here To Apply for a REAL ESTATE MORTGAGE

Call 336-753-0844 or toll free 877-610-8673