subject: How to Buy Orlando Real Estate after a Previous Bankruptcy [print this page] How to Buy Orlando Real Estate after a Previous Bankruptcy
A past filing of bankruptcy does not mean you can't buy Orlando real estate. Your real estate agent may be able to help you get a mortgage or find other ways to buy a home, if you do get turned down for a traditional mortgage. Before you meet with your Orlando real estate agent, here are a few ways to prepare: Have a copy of your current bank statement
Have written proof of your monthly income
Make a list of all your current monthly bills
Collect all your recent credit card statements
Have a copy of your bankruptcy agreement
Put all this info in a file folder and take it to your meeting. Your Orlando real estate agent will appreciate you doing your homework!If you have straightened out your credit since the bankruptcy, you are in a much better position to get a mortgage. Hopefully, you are currently paying all your monthly bills on time and rebuilding your credit rating. The bigger your down payment, the easier it will be to get a mortgage. So, where can you get money for a down payment? Have you been having money taken out of your checks and put into a savings?
Do you have any money market accounts?
Do you have money invested in mutual funds?
Do you have certificates of deposit about to come due?
Will you be receiving a bonus from your employer?
How about a friend or relative who would loan you the down payment?
A noted, a past filing of bankruptcy does not mean you can't buy Orlando real estate. Your real estate agent may be able to help you get a mortgage or find other ways to buy a home, if you do get turned down for a traditional mortgage. Remember before you meet with your Orlando real estate agent, follow the advise above.
