Are there any lenders that will loan money with a 648 credit score and midway through a Chapter 13?

most FHA lenders require a 640 or above to qualify for a mortgage... and under current FHA guidelines, if you have made 12 on time payments to your trustee, and the court gives you permission, you can purchase a home now.. Sadly.. If you wait till you are out of the BK, you are correct... you will have to wait 2 years from the discharge date.. The best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Your biggest obstacle is that you are IN a chapter 13. Assuming you have made the last 12 (preferably all) of your payments to the trustee as per the plan, as long as your trustee gives you permission, you are eligible for an FHA loan. Before you do anything else, make sure you have your trustee's permission first. Once you get that, then your next obstacle is going to find a lender willing to allow you to buy a new home and convert your old one to a rental. In fact, many underwriters are going to look at your situation and, if you have little or no equity in your current home, tell you NO. It is likely that they will assume that you intend to give the house back. This will be supported by the fact that you did not re-affirm the mortgage on the home. Since every bankruptcy lawyer advises their client not to reaffirm the debt, I'm probably right. If true, there is nothing stopping you from giving it back, which means the underwriter will assume this is your plan. If you do have equity in the home, then it will be easier, but still no cake walk. Work with a local Mortgage Banker/Broker, rather than one of the big banks or national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. More importantly, all of the big banks dislike people with recent bankruptcies, so they are much more likely to tell you no at the start. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

The score is not a problem for us. We have lenders that will work with you while you are in a chapter 13. Feel free to call tomorrow to discuss more. 201-962-3555

Is current mortgage a FHA LOAN? VA ? iS your home inside the bk or on the out side of the bk?? A lot of people do not realize that the bk trustees set them up in certain ways. Do you pay the trustee of the bk your mortgage payment or do you pay it yourself ?? How long is your bk 13? and what was the reason for the bk13? i deal with a lot of the bk trustees, so yes, I am very knowledgeable of the particulars. you can email me at yourloanpartnerforlife@live.com linda or phone at 602-330-1598

Hi There in Naples. You should be able to get an FHA loan for the purchase of your home provided you have made at least 12 months of payments on time to the courts & the trustee will have to approve of the transaction. I can do loans with a 648 credit score. I would be happy to consult with you and see if this is something you can pursue at this time. No obligation to let you know what options you have. The relocation would be my biggest worry as you would have to have the income to qualify for the loan.Give me a call @ 386-569-3761 or email me @ lisa@gulf-western.com I am in Punta Gorda, FL. Not too far from where you want to be.

Contact a local Banker for help, they will advise you on your options.